Export of cotton textile increases immensely, touches $ 15.29 billion in year 2021-22
In the year 2021-22, the export of cotton textiles, including raw cotton is $15.29 as per the provisional data.
This is s great spike as compared to last year which was merely $9.8 billion. The government targeted the export of $13.6 billion this year, says Manoj Kumar Patodia, chairman of Cotton Textile Export Promotion Council (Texprocil).
Such a major jump is because of the exports of yarn, fabrics and made ups to countries like Bangladesh, US, Portugal and Sri Lanka.
The Chairman of Texprocil , Siddhartha Rajagopal added that yarn export to China and textile export to countries like Egypt and Portugal also contributed to the such huge quantity of export. Indian marketers were in search of new markets and apart from it they increased the volume of exports too.
But the sustainability of this growth is dependent over several factors such as supply chain limitation, high price raw materials etc. So before proceeding for the next marketing year traders should re-examine the business model to remain competitive in market.
