Textile exports surge by 9.6% in May: CITI
India’s overall exports for May 2024 increased to $68.29 bn, marking a substantial year-on-year increase of 10.2%
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New Delhi: India’s textile exports grew by 9.59 per cent in May this year compared to the same month of the previous year, despite unfavourable economic conditions in major markets such as the European Union (EU), the US and West Asian nations, according to a report by the Confederation of Indian Textile Industry (CITI).
In addition, the country’s apparel exports saw an increase of 9.84 per cent during the same period, the report points out.
CITI’s report highlighted that the combined exports of textiles and apparel in May 2024 registered a 9.70 per cent growth over May last year. India’s overall exports for May 2024 surged to $68.29 billion, marking a substantial year-on-year increase of 10.2 per cent, according to the figures released by the Commerce Ministry.
The CITI analysis shows that during April-May 2024, Indian textile exports grew by 6.04 per cent over the previous year, while apparel exports increased by 4.46 per cent during the same period. The cumulative exports of textiles and apparel during April-May 2024 saw a 5.34 per cent rise compared to the same period last year.
