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The Textiles Ministry has said that India's textiles and apparel exports, including handicrafts, grew 7 per cent during the April-October period of current financial year to $21.35 billion. The outbound shipments from the sector stood at $20 billion in the same period of the previous financial year, FY 2023-24. It stated the Ready Made Garments (RMG) category with exports of $8,733 million has the largest share (41 per cent) in the total exports ($21,358 million) during the period of April-October of FY 2024-25, followed by Cotton Textiles (33 per cent, $7,082 million), Man-Made Textiles (15 per cent, $3,105 million).

Moreover, it said growth of exports was observed in all principal commodities during April-October of FY 2024-25, as compared to corresponding period of FY 2023-24, except wool and handloom, which declined by 19 per cent and 6 per cent, respectively. Meanwhile, the overall import of textiles and apparel including handicrafts declined 1 per cent during the April-October period of FY 2024-25 ($5,425 million), compared to the same period of FY 2023-24 ($5,464 million).

Further, it said the man-made textiles category with import of $1,859 million has the largest share (34 per cent) in the total imports ($5,425 million) during the period of April-October of FY 2024-25, as there is a demand-supply gap in this sector. During FY 2023-24, the import of textiles and apparel products by India stood at $8.94 billion, down by nearly 15 per cent in comparison to $10.48 billion in FY 2022-23. India was the sixth largest exporter of textiles and apparel in the world in 2023. The share of textile and apparel (T&A) including handicrafts in India's total exports stood at 8.21 per cent in FY 2023-24.