India’s textile and apparel industry continues to demonstrate resilience and growth amidst dynamic global market conditions. The sector has shown notable progress in exports during FY 2024-25, coupled with a slight dip in imports, indicating an ongoing push for self-reliance and strengthened production capabilities. Here’s an in-depth look at the latest developments in this vital industry.
1. Export Growth and Key Categories
India’s textile and apparel exports, including handicrafts, witnessed a 7% growth from April to October in FY 2024-25, reaching USD 21.35 billion compared to USD 20 billion during the same period in FY 2023-24. This growth highlights the sector’s steady recovery and competitiveness on the global stage.
Major Export Categories:
- Ready-Made Garments (RMG): USD 8,733 million (41% of total exports).
- Cotton Textiles: USD 7,082 million (33%).
- Man-Made Textiles: USD 3,105 million (15%).
However, some subsectors faced challenges, with wool and handloom exports declining by 19% and 6%, respectively.
2. Decline in Imports
India’s textile imports saw a marginal decline of 1%, totaling USD 5,425 million during the same period. The primary import component remains man-made textiles, accounting for USD 1,859 million (34%) of the total imports. This aligns with India’s efforts to bolster domestic production and reduce dependency on imported materials.
3. India’s Position in Global Trade
India ranks as the sixth-largest textile exporter globally, with a 3.9% share of the world’s textile and apparel trade as of 2023. The sector contributes 8.21% to India’s total exports, underscoring its importance to the national economy.
- The USA and EU dominate as key export markets, representing 47% of total exports.
4. Economic Context and Trends
The textile sector’s performance is influenced by global demand patterns, domestic production capacity, and government initiatives. Factors like increased consumption and a focus on self-reliance have fueled growth in cotton textiles production, while challenges persist in subsectors like wool and handloom.
Notably, India’s textile and apparel imports for the previous fiscal year stood at USD 8.94 billion, reflecting a 15% decrease from USD 10.48 billion in FY 2022-23. This trend aligns with the sector’s move towards reduced dependency on imports.
Key Data Snapshot
| Category | Details |
|---|---|
| Exports (Apr-Oct FY 24-25) | USD 21.35 billion (+7% YoY growth) |
| – Ready-Made Garments (RMG) | USD 8,733 million (41% of total exports) |
| – Cotton Textiles | USD 7,082 million (33%) |
| – Man-Made Textiles | USD 3,105 million (15%) |
| – Decline in Wool Exports | -19% |
| – Decline in Handloom Exports | -6% |
| Imports (Apr-Oct FY 24-25) | USD 5,425 million (-1% YoY decline) |
| – Man-Made Textiles (Imports) | USD 1,859 million (34% of total imports) |
| Global Standing | 6th largest exporter, 3.9% share in global textile and apparel trade |
| Major Export Markets | USA & EU (47% of total exports) |
| Previous Fiscal Imports | USD 8.94 billion (-15% from USD 10.48 billion in FY 22-23) |
Conclusion
India’s textile and apparel industry is poised for further growth, driven by strong export performance and strategic domestic policies. While challenges persist in specific sectors like wool and handloom, the overall trajectory suggests a positive outlook for the industry as it strengthens its position in global trade. Addressing high input costs and enhancing competitiveness will be crucial for sustaining this momentum.
Glottis Limited 
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