India's textiles & apparel exports rise 7% in April-Oct FY25, ready-made garments lead the way

India’s textiles and apparel exports, including handicrafts, grew by 7% to $21.36 billion during the April-October period of FY 2024-25, compared to $20.01 billion in the same period of the previous fiscal, the Ministry of Textiles said on Thursday.

Ready-made garments (RMG) emerged as the top export category, contributing $8.73 billion, or 41% of the total exports during the period. Cotton textiles followed with $7.08 billion (33%), while man-made textiles accounted for $3.11 billion (15%).

However, certain segments saw declines, with exports of wool and handloom products dropping by 19% and 6%, respectively, during the period.

India remains the sixth-largest exporter of textiles and apparel globally, with a 3.9% share in the global trade in 2023. The sector accounted for 8.21% of India’s total exports in FY 2023-24.

The United States and the European Union remained the largest markets for Indian textiles and apparel, accounting for 47% of the total exports. India, a major player in the global textile trade, maintained a trade surplus, with imports primarily serving re-export or industrial requirements.

Despite initial setbacks in FY 2024 caused by geopolitical disruptions, such as the Red Sea and Bangladesh crises, the sector recovered, recording a 7% growth in exports during the April-October period of FY 2024-25. Exports reached $21.36 billion during the April-October period, compared to $20.01 billion in the same period of FY 2023-24.

On the other hand, textiles and apparel imports dropped 15% to $8.95 billion in FY 2023-24 from $10.48 billion in FY 2022-23. During the April-October FY 2024-25 period, imports were marginally lower at $5.43 billion compared to $5.46 billion in the same period the previous year.

Man-made textiles formed the largest share of imports, amounting to $1.86 billion (34%) during April-October FY 2024-25.

"Growth of imports is observed majorly in Cotton Textiles mainly on account of import of long staple cotton fibre and such trends of import indicates towards an increase in production capacity of the country amidst rising consumption and self reliance," the ministry said.