Textile Exporters Optimistic as September Sees Strong Growth
By 2024-10-18 12:10:47
Exporters of textiles are upbeat as September shows rapid growth.
Kolkata: Textile and apparel exporters are optimistic about growth as India’s geopolitical and economic environment improves. Industry players are hopeful that this positive momentum will continue, marking a significant turnaround for the sector.
According to data from the Confederation of Indian Textile Industry (CITI), apparel exports surged by 17.3%, while textile exports saw a 9.5% increase in September.
Textile exports for the month amounted to ₹13,800 crore, with garment exports reaching ₹7,896 crore.
Former CITI chairman Sanjay Jain noted that the past two years had been challenging for garment exports, but the outlook is now improving. He expects the next 18 months to be promising, driven by rising demand from the US and European markets. "Much of the business has shifted from Bangladesh since August, and this trend is expected to continue into the next quarter," Jain said. He also highlighted that raw material prices have begun to stabilize, further supporting growth.
