India’s textile and garment exports rebound

The global supply chain is realigning due to the Bangladesh crisis, bringing garment export orders to India.

According to trade data released by the government on Thursday, apparel exports registered 35 % year-on-year growth in October and textile exports grew 11.56 %.

Rakesh Mehra, chairman of Confederation of Indian Textile Industry, said in a press release that the significant progress was because of multiple factors, including the increased market share of Indian textile and exports in the U.S., supportive government initiatives, and India’s position as a preferred sourcing destination.

Chairman of AEPC, Sudhir Sekhri, said, “India’s RMG exports have witnessed record growth despite global headwinds and disruptions due to ongoing wars; reflecting the resilience of industry to withstand tough times. We are now reaping the benefits of the RMG industry’s drive to strongly focus on quality and sustainability...We have also been doing well in few of the FTA markets such as South Korea, Japan, Australia, and Mauritius.”

“Next year we are organising India’s biggest textiles fair Bharat Tex 2025, which will be a great platform to showcase our potential. The global buyers and brands are eagerly waiting to source from India and we have been doing roadshows and roundtables to invite them. The response we are receiving from them is very encouraging,” he added.

According to Mithileshwar Thakur, Secretary General of AEPC, “This is the time when the supply chain is getting re-aligned due to the Bangladesh crisis and the global buyers are looking for China’s alternative. Additionally, ongoing wars have disrupted the traditional trade routes adding to the cost burden. This is the appropriate time for the government to whole- heartedly support this labour- intensive sector through handholding, capacity augmentation, skilling, investment and sustained financial support to this MSME driven sector.”

Published - November 15, 2024 08:57 pm IST