India’s textile exports recorded an 11.56% increase in October, reaching $1,833.95 million compared to the same month last year. This growth highlights the sector’s continued strength despite global economic uncertainties, according to data released by the Confederation of Indian Textile Industry (CITI).
Apparel Exports Register Strong 35% Growth
In a notable performance, apparel exports soared by 35.06% in October, amounting to $1,227.44 million. The combined exports of textiles and apparel grew by 19.93% compared to October 2023, indicating strong demand and a positive trend in the sector’s export performance.
Between April and October 2024, India’s textile exports grew by 4.01% year-over-year, while apparel exports saw a more robust increase of 11.6%. These figures underscore the resilience of the industry amid global trade challenges, CITI stated.
Shift in Trade Patterns Due to Regional Instability
While CITI did not specify the reasons for this surge, market analysts suggest that political instability in Bangladesh, a major textile manufacturer, has potentially diverted trade flows toward India, boosting its export figures.
India’s textile industry is on a growth trajectory, with total exports expected to reach $65 billion by FY26, according to Invest India, the government’s investment facilitation agency. This projection reflects optimism in the sector’s potential for expansion in the coming years.
Invest India data reveals that the domestic textile market, valued at approximately $165 billion in 2022 (with $125 billion from domestic sales and $40 billion from exports), is projected to grow at a compound annual growth rate (CAGR) of 10%, reaching $350 billion by 2030.
India Becomes a Leading PPE Manufacturer
In addition to its strong textile performance, India has emerged as the world’s second-largest manufacturer of personal protective equipment (PPE). With more than 600 certified PPE producers, India is well-positioned in a global market anticipated to surpass $92.5 billion by 2025, up from $52.7 billion in 2019.
The textile industry plays a significant role in job creation, employing 45 million people directly and an additional 100 million in related sectors. Cotton cultivation alone supports around 6 million farmers and 40-50 million individuals involved in processing and trade activities.
India remains one of the largest producers of textiles and apparel globally, showcasing its competitive edge and capacity to meet rising global demand across various textile segments.