Tex­tiles, cloth­ing ex­ports jump 11% in July

Perfect Sourcing - - India News -

Af­ter a 17% de­cline in the April–june quar­ter, In­dia’s tex­tiles and cloth­ing ex­ports re­vived to wit­ness a jump of 11% in July. Data com­piled by the DGCIS un­der the Union Min­istry of Com­merce showed to­tal tex­tiles and ap­parel ex­ports at Rs 196.36 bil­lion ($ 2.86 bil­lion) for July 2018 com­pared to Rs 176.92 bil­lion ($2.74 bil­lion) for the cor­re­spond­ing month last year. To­tal tex­tiles ex­ports wit­nessed a jump of 15 per cent to Rs 108.79 bil­lion ($1.58 bil­lion) for July 2018 ver­sus Rs 94.29 bil­lion ($ 1.46 bil­lion) in the com­pa­ra­ble month of pre­vi­ous year. Mov­ing in tan­dem, In­dia’s ap­parel ex­ports recorded a jump of 6 per cent to Rs 87.57 bil­lion ($1.27 bil­lion) for July 2018 as against Rs 82.63 bil­lion ($1.28 bil­lion) for the same month last year.

De­pre­ci­a­tion in the ru­pee against the dol­lar helped In­dian ex­porters to ex­pe­dite ex­e­cu­tion of or­ders and also re­ceiv­ables. Fur­ther, the man­made fi­bre (MMF) seg­ment, which is ex­pected to be the growth driver of the in­dus­try in the com­ing years, has seen in­crease in pro­duc­tion. Growth has been ob­served in pro­duc­tion of man-made fi­bre, spun yarn and fab­ric dur­ing April-june 2018.

The im­ports growth of tex­tile and cloth­ing has come down sig­nif­i­cantly. While the im­ports of tex­tiles and cloth­ing has in­creased from US$ 1.78 bn in April-june 2017 to US$ 1.87 bn in the same pe­riod this year, an in­crease of 5 per cent, it is sig­nif­i­cantly lower than the growth of 16 per cent last year.

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