India's Textile & Apparel Exports Rise 4.73% in July - CITI

Mumbai, Aug 15 (PTI) India's textiles and apparel exports in July grew by 4.73 per cent to USD 2,937.56 million compared to the same month last year mainly driven by an increase in demand for apparels, the Confederation of Indian Textile Industry (CITI) said on Thursday.

Textiles and apparel exports stood at USD 2,805.01 million in July 2023, CITI said.

While the textile exports were steady at USD 1,660.36 million in July compared to USD 1,663.06 million, apparel shipments during the month surged by 11.84 per cent to USD 1,277.20 million from USD 1,141.95 million during the same time last year.

"This year has shown promising progress for India's T&A exports, particularly when compared to last year. The growth in exports is largely attributed to the expanding share of Indian apparel in key markets such as the US, alongside increased exports to the European Union and the UK," CITI Chairman Rakesh Mehra said.

The industry, he said, remains optimistic about export orders in the upcoming months, and is poised to further leverage the concluded Free Trade Agreements (FTAs) like the India-Australia Economic Cooperation and Trade Agreement (ECTA) and the India-UAE Comprehensive Economic Partnership Agreement (CEPA).

"These agreements are expected to provide additional momentum to our exports. The industry anticipates continued growth and is strategically positioning itself to capitalise on these opportunities, ensuring that India remains a key player in the global textiles and apparel market," he added.