Indian textile exports surge by 9.59 per cent in May

In May 2024, Indian textile exports increased by 9.59 per cent over the previous year, despite poor economic conditions in important markets like the US, the EU, and West Asian countries.

In the same time frame, there was a 9.84 per cent increase in Indian garment exports. According to the CITI data, overall textile and apparel exports in May 2024 increased by 9.70 per cent compared to the same month the previous year.

In May 2024, the nation’s total exports reached a record US $ 68.29 billion. Figures issued by the Commerce Ministry show a significant increase of 10.2 per cent year over year.

According to the data, between April and 24th May, Indian textile exports increased by 6.04 per cent over the prior year, while clothing exports increased by 4.46 per cent in the same period.

Comparing April to May of 2024 to the same period in the previous year, there was a 5.34 per cent increase in the total exports of textiles and clothing.

The Federation of Indian Export Organisations (FIEO) President, Ashwani Kumar, noted that strong order bookings in May 2024 contributed to a good trajectory.

The US, UAE, Netherlands, UK, China, Singapore, Saudi Arabia, Bangladesh, Germany, and France were among India’s top 10 export destinations. Significantly, the exports showed double-digit growth in these markets.