Led predominately by the apparel sector, the textile and apparel (T&A)
exports for May grew 5.25% to $3.152 billion as compared to $2.995 billion
in the same period last year. For the first two months of the current financial
year, T&A exports grew 2.26% to $6.065 billion as against $5.931 billion in
the same two months of the previous fiscal, said the Confederation of Indian
Textile Industry (CITI).
Textile exports in May declined 1.94% to $1.624 billion as against $1.656
billion in May 2018 and, for the first two months of the current fiscal, it
declined 3.55% to $3.128 billion as compared to $3.243 billion in the AprilMay
period of 2018.
However, on the other hand, apparel exports grew 14.15% in May to $1.528
billion as compared to $1.338 billion in May 2018. For the first two months
of current fiscal, it grew 9.27% to $2.937 billion as against $2.688 billion in
April and May 2018, CITI said in its analysis.
The largest segment under textiles category — cotton yarn/fabs/made-ups,
handloom products — has reported a decline of 5.94% in May to $885 million
(from $941 million in May 2018).
For the first two months of the current financial year, it declined by 5.89% to
$1.729 billion (from $1.837 billion in the same period last year). Other
segments in the textile category such as jute manufacturing, carpet,
handicrafts saw growth of 7.86%, 1.54% and 23.87%, respectively, in May.
CITI analysis further said imports of textile yarn fabric, made-ups in May
grew 9% to $175.79 million as compared to $161.17 million in May 2018. And
for April and May, the imports of these item grew 11.72% to $320.78 million
as against $287.13 million.
Source: The Financial Express, India Wednesday, 19 June 2019