Garment exports hit by raw material prices

Textile and clothing exports from the country between April and December 2021 were up 18 % in dollar terms and almost 25 % in rupee terms compared to the corresponding period in 2019, according to dat

Textile and clothing exports from the country between April and December 2021 were up 18 % in dollar terms and almost 25 % in rupee terms compared to the corresponding period in 2019, according to data available.

While the total textile and apparel exports in April - December 2019 were to the tune of $ 25 billion, it increased to almost $30 billion during the same period last year. In rupee terms, the exports grew from ₹ 1,77,803 crore to ₹ 2,21,528 crore. While cotton yarn, fabric and made-ups saw more than 40 % growth in dollar and rupee terms, ready made garment grew only 2.69 % in rupee terms (between April and December 2021 compared to the same period in 2019) and saw a negative growth of 2.81 % in dollar terms.

Overall textile and clothing exports are expected to be a little more than $ 40 billion this financial year (2021-2022) compared as against the target of $ 44 billion. The main area of concern is exports of apparels, Textiles Secretary Upendra Prasad Singh told The Hindu on Wednesday.