Chinese Share of Indian Yarn Exports More Than Doubles in FY24
By 2024-07-01 14:36:30
In FY24, China's portion of India's yarn exports more than doubles.
In FY24, the share of Indian yarn exports to China surged from 10% in FY23 to 21%. This increase is attributed to competitive prices of Indian cotton and issues surrounding Xinjiang cotton.
Key highlights include:
Cotton yarn exports rose by 83% in FY24.
Yarn exports accounted for 32% of India's total production in FY24, up from 19% in FY23.
Allegations of forced labor in Xinjiang cotton production and the lifting of Covid-19 restrictions in China since January 2023 have led to increased demand for Indian yarn.
Bangladesh, China, and Vietnam together accounted for 60% of Indian cotton yarn exports.
This upward trend is expected to continue in FY25 due to ongoing global concerns regarding Xinjiang cotton and the competitive pricing of Indian cotton.
