India’s apparel exports at $14 bn in 2022, US top market at 35% share

The UAE was the second-largest market for Indian garment exports, importing garments worth $1.163 billion, followed by Germany at $936.181 million, accounting for 7.85 per cent and 6.32 per cent, respectively, according to Fibre2Fashion’s market insight tool TexPro. 

India shipped apparel worth $14.82 billion in 2022, with the US being the top market, accounting for 35.89 per cent of India’s exports at $5.319 billion. Over the last two years, India’s exports to the US have grown impressively, registering an increase of 66 per cent. Other countries in the top five markets include the UAE, Germany, the UK, and France.

India’s apparel exports to the UK were $911.860 million (6.15 per cent), to France were $627.851 million (4.24 per cent), to Spain were $580.595 million (3.92 per cent), to the Netherlands were $578.686 million (3.90 per cent), to Italy were $359.533 million (2.42 per cent), to Australia were $276.644 million (1.87 per cent), and to Canada were $272.301 million (1.84 per cent). India’s outbound shipments to the US had dropped by 19.36 per cent to $3.044 billion in 2020 due to COVID-19. However, it bounced back in the following year, with exports increasing by 51.09 per cent to $4.6 billion in 2021. In 2022, exports further increased by 15.63 per cent to $5.319 billion, as per data obtained from TexPro. 

Fibre2Fashion News Desk (KUL)