Foreign news on July 18 showed that India’s textile and clothing exports fell sharply in the first quarter (April-June) of the 2023/24 fiscal year.
Data shows that exports fell in various categories, including cotton yarn, fabrics and handloom products.
The total export value of textiles and clothing fell by 15.26% to US$8.44059 billion in the April-June period, compared with US$9.96032 billion in the same period of the previous fiscal year.
According to data released by the Ministry of Industry and Commerce, the export value of cotton yarn, fabrics and other products fell by 12.83% to US$2.7583 billion in the first quarter of this fiscal year.
Clothing exports fell 17.72% to US$3.69471 billion from April to June 2023, compared with US$4.49066 billion in the same period last year. In June 2023 alone, clothing exports fell by 16.87%, from US$15.0112 billion to US$12.4795 billion.
In addition, the country’s imports of raw cotton and recycled cotton dropped from US$274.6 million in the same period last year to US$198.47 million from April to June 2023, a decrease of 27.72%.
