Textile sector records 31% increase in exports; signals of economic rebound

The textile sector in India has continuously maintained a trade surplus with exports manifold higher than imports. However, there has been a deceleration in textile exports due to pandemic disrupting the supply chain and demand in the financial years 2020-21. The textile exports in India increased by 31 per cent.  

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Signs of recovery - Comparison between 2021 and 2020
Nevertheless, the signs of recovery are visible in 2021-22, as per the release from the Ministry of Textiles. During April-December, 2021 the total textiles and apparel including handicrafts exports was $ 29.8 billion as compared to $ 21.2 billion for the same period last year. These signals of growth are an economic rebound.

Export increased by 14.6 per cent
One must note that export for whole sector (Textiles & Apparel including Handicrafts) increased by 14.6 per cent from April- December 2021 as compared to last year. The textiles exhibited an increase in export of 31 per cent, Cotton Yarn/ Fabrics/ Made-ups, handloom products and others exhibited an increase of 43 per cent and jute products exhibited an increase of 33 per cent from April-December 2021 as compared to last year.

Government's target
It must be noted that the government has set the target of $44 billion for Textiles & Apparel including Handicrafts and more than 67 per cent has already been achieved. The last quarter of FY always has higher activity than the earlier quarters. Industry is hopeful that targets will be duly met.