The exports of cotton yarn, fabrics, made-ups, and handloom products declined by 28.89 per cent to $9,922.12 million in April-February 2023 from $13,952.60 million in the corresponding period of the previous fiscal. Carpet exports came down by 23.22 per cent to $1,255.12 million from $1,634.80 million in the same period of the last fiscal. Man-made yarn, fabrics and made ups exports went down by 12.53 per cent year-over-year (YoY) to $4,472.24 million from $5,087.50 million in the same period. 

India’s RMG exports rose by 3.28 per cent to $14,742 million in the first eleven months of fiscal 2022-23, while exports of cotton yarn, fabrics, made-ups, and handloom products declined by 28.89 per cent. In February 2023, India’s RMG exports decreased by 12.09 per cent, while overall exports (merchandise and services combined) increased by 7.81 per cent.

In the month of February 2023, India’s RMG exports decreased by 12.09 per cent to $1,406.99 million from $1,600.54 million in February 2022. The exports of cotton yarn, fabrics, made-ups, and handloom products declined by 30.41 per cent YoY to $876.70 million from $1,259.85 million. Carpet exports fell by 23.22 per cent to $98.95 million in February 2023 from $130.55 million in the same period. Man-made yarn, fabrics and made ups exports came down by 17.47 per cent to $397.12 million from $481.20 million in the same period. 

India’s overall exports (merchandise and services combined) in February 2023 are estimated to be $63.02 billion, which were 7.81 per cent higher than the shipment in the same period of last year. Overall imports in February were estimated at $65.85 billion, which was 4.38 per cent lower than the same period of last year. 

India’s overall exports (merchandise and services combined) in April-February 2022-23 increased 16.18 per cent YoY to $702.88 billion. Total imports in the first eleven months of 2022-23 grew by 19.93 per cent to $817.46 billion from the corresponding period of last year. 

Fibre2Fashion News Desk (KUL)