Indian Economy News

India's textiles exports highest-ever in FY22 at $44.4 bn, says govt

India recorded its highest-ever textile and apparel exports of US$ 44.4 billion in fiscal year 2021-22. The export total, which includes handicrafts, showed a significant growth of 41% and 26% over the corresponding figures in FY21 and FY20, respectively.

Exports of ready-made clothes stood at US$ 16 billion in 2021-22, with a 36% share, representing a 31% and 3% increase over FY21 and FY20, respectively. Man-made textile exports were at US$ 6.3 billion, with a 14% share, representing a 51% and 18% increase over FY21 and FY20. The textiles ministry said that handicraft exports were at US$ 2.1 billion (5% share), with increases of 22% and 16% in 2021-22 over FY21 and FY20, respectively.

According to the textiles ministry, the United States was the main export destination for the country's textiles and apparel shipments, accounting for 27% of total shipments, followed by the European Union (18%), Bangladesh (12%), and the UAE (6%).

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.