India’s Textile and Apparel Exports Surge in October 2024
In October 2024, India’s textile exports saw a significant increase, rising by 11.56% to USD 1,833.95 million compared to the previous year. Apparel exports also experienced a remarkable growth of 35.06%, reaching USD 1,227.44 million. The Confederation of Indian Textile Industry (CITI) highlighted these figures, noting a cumulative export growth of 19.93% for textiles and apparel compared to October 2023.
From April to October, textile exports grew by 4.01%, while apparel exports increased by 11.60% over the previous year. CITI expressed optimism about these developments, attributing them to the resilience and competitiveness of India’s textile and apparel industry globally. Although no specific reasons were provided for the export boost, Bangladesh’s political instability may have shifted trade to India.
India’s textile industry is poised for expansion, with exports projected to reach USD 65 billion by FY26, according to Invest India, the government’s investment promotion agency. The domestic textile market, valued at USD 165 billion in 2022, is expected to grow at a 10% CAGR, reaching USD 350 billion by 2030.
India is also the second-largest manufacturer of personal protective equipment (PPE) globally, with over 600 certified companies. The PPE market is projected to exceed USD 92.5 billion by 2025. The textile industry is a major employment provider, offering direct jobs to 45 million people and supporting 100 million in related sectors. Cotton cultivation alone supports 6 million farmers and 40-50 million people in processing and trade.
Doubts Revealed
Textile Exports -: Textile exports refer to the selling and sending of fabrics and cloth materials made in India to other countries. This helps India earn money and support its economy.
Apparel Exports -: Apparel exports mean sending clothes and garments made in India to other countries. This is important for India’s economy and provides jobs to many people.
Confederation of Indian Textile Industry -: The Confederation of Indian Textile Industry is a group that represents the textile industry in India. They help promote and support the growth of textile businesses in the country.
Cumulative Growth -: Cumulative growth means the total increase over a period of time. In this context, it shows how much the textile and apparel exports have grown compared to the previous year.
FY26 -: FY26 stands for the financial year 2026. In India, a financial year starts in April and ends in March of the next year. FY26 would be from April 2025 to March 2026.
USD -: USD stands for United States Dollar, which is the currency used in the United States. It is often used in international trade, including India’s exports.