The exports of cotton yarn, fabrics, made-ups, and handloom products declined by 25.79 per cent to $7,315.79 million in April-November 2022 from $9,857.62 million in the corresponding period of last fiscal. Carpet exports came down by 21.91 per cent to $932.12 million from $1,193.68 million in the same period in the last fiscal. Man-made yarn, fabrics and made ups exports went down by 8.28 per cent year-over-year (YoY) to $3,290.90 million from $3,587.87 million in the same period. 

India’s readymade garment (RMG) exports increased by 7.22 per cent to $10,358 million in the first eight months of the current fiscal 2022-23 (April to November 2022), as per the data released by the department of commerce under India’s ministry of commerce and industry. RMG exports were noted at $9,660 million in the same period of last year.

India’s RMG exports increased by 11.20 per cent to $1,198.09 million in November 2022. The exports were noted at $1,072.64 billion in the same period of last year. But the exports of cotton yarn, fabrics, made-ups, and handloom products declined by 34.53 per cent YoY to $803.17 million from $1,226.69 million. Carpet exports fell 22.61 per cent to $115.06 million from $148.68 million in the same period. Man-made yarn, fabrics and made ups exports came down by 17.74 per cent to $355.37 million from $432 million in the same period. 

India’s overall exports (merchandise and services combined) in November 2022 were estimated at $58.22 billion, exhibiting a growth of 10.97 per cent over the same period last year. Overall imports in November 2022 were recorded at $69.33 billion with a growth of 5.60 per cent over the same period of last year. 

During the first eight months of the current fiscal, India’s overall exports were noted at $499.67 billion with a growth of 17.72 per cent over the same period last year. The imports in the same period were estimated at $610.70 billion, a growth of 29.47 per cent. 

Fibre2Fashion News Desk (KUL)