India's Textile and Garment Exports increased by 7%

India’s Textile and Garment Exports increased by 7%

The textile and garment sector in India is growing rapidly. From April to November in 2018, the export in the textile and garment sector increased by 7 per cent in total. The export rises from Rs.1492.54 billion in the last fiscal to Rs.1600.10 billion in the current fiscal, Union Ministry of textiles confirmed after data compilation. Similarly, in the same period, the export in dollar terms remained flat at 23.18 billion US Dollar.

After a sharp jump of 38 per cent in October, India’s textile and garment exports growth moderated in November 2018 due to sharp volatility in the rupee-dollar exchange rate. In November, textile and garment exports earned Rs.189.65 billion, as against Rs.167.07 billion fetched in the corresponding month of 2017, Union ministry of textiles reported. In dollar terms, exports were 2.64 billion US Dollar, an increase of 2 per cent over 2.57 billion US Dollar in the same month the previous year.

Segment-wise, textile exports rose 9 per cent to Rs.108.53 billion in November 2018, compared to Rs.99.87 billion in the corresponding month of the previous year. While apparel exports jumped by 21 per cent to Rs.81.12 billion in November 2018 from Rs.67.20 billion in November 2017.

In fiscal 2017-18, India’s textile and garment exports totalled 35.666 billion US Dollar with garments accounting for 16.705 billion US Dollar, cotton textiles 11.190 billion US Dollar, and man-made textiles 5.388 billion US Dollar.