India has emerged as the 6th largest exporter of textiles and apparel globally, with a market share of 3.9%. The sector contributes 8.21% to the country’s total exports, highlighting its crucial role in the international textile supply chain.
During the first half of FY 2024-25, India's textile and apparel exports reached USD 21,358 million, reflecting a 7% increase compared to the same period last year. According to the Ministry of Textiles, the Ready Made Garments (RMG) category led the charge, accounting for 41% of the total exports, valued at USD 8,733 million. Cotton textiles followed closely with 33% of exports (USD 7,082 million), while man-made textiles contributed 15% (USD 3,105 million).
Key export destinations for Indian textiles include the United States and the European Union, which together account for approximately 47% of total textile exports. The growth in textile exports is attributed to the strong demand for Indian products, even amid global geopolitical uncertainties like the Red Sea crisis and the Bangladesh crisis, which initially slowed exports in early 2024. However, demand rebounded in the latter half of the year, especially for key categories.
Export data from April-October 2024 shows growth across nearly all major textile categories, including a 12% rise in RMG exports, a 1% increase in cotton textiles, and a 5% boost in man-made textiles. However, certain categories faced declines, such as wool and handloom products, which saw a 19% and 6% drop in exports, respectively. Conversely, silk exports surged by 40%, and carpets experienced a healthy 12% growth.
India’s imports of textiles and apparel dropped by approximately 15% in FY 2023-24, falling from USD 10,481 million in FY 2022-23 to USD 8,946 million. This decline signifies India's increasing self-reliance in the textile sector, with the country meeting more of its raw material requirements domestically. For FY 2024-25, imports in the first half amounted to USD 5,425 million, marking a slight 1% decrease from the previous year.
