Textile and Apparel Exports Rise 4.73% in July on Strong Apparel Demand: CITI
By DHEERAJ GUPTA 2024-08-16 14:07:46
August Textile and Apparel Exports Increase 4.73% Due to High Demand for Clothes: CITI
India's textiles and apparel exports saw a 4.73% increase in July, reaching USD 2,937.56 million, largely driven by a surge in apparel demand, according to the Confederation of Indian Textile Industry (CITI). While textile exports remained stable at USD 1,660.36 million, apparel exports jumped by 11.84% to USD 1,277.20 million, compared to USD 1,141.95 million in the same period last year.
CITI Chairman Rakesh Mehra highlighted the strong performance, noting that the growth is due to the expanding presence of Indian apparel in key markets like the US, as well as increased exports to the European Union and the UK. The industry is optimistic about future export orders, buoyed by recent Free Trade Agreements (FTAs) such as the India-Australia Economic Cooperation and Trade Agreement (ECTA) and the India-UAE Comprehensive Economic Partnership Agreement (CEPA).
“These FTAs are expected to give our exports a significant boost. The industry is strategically positioning itself to seize these opportunities, ensuring India's continued prominence in the global textiles and apparel market," Mehra added.