Syllabus: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
Overview
- India’s textile and apparel exports fell sharply in October due to U.S. tariffs and heavy discounting pressures.
- Exports dropped 12.91% compared to October last year.
Export Performance
- Textile exports: Declined to $1,597 million from $1,833 million in October 2024.
- Apparel exports: Reduced to $1,069.42 million from $1,227 million last year.
- Jute exports: Fell by 27.27%, indicating severe demand contraction.
- Carpet exports: Dropped 15.8%, reflecting continued market stress.
- Cotton yarn, fabrics and made-ups: Declined 13.31%, signalling widespread slowdown across categories.
Industry Insights
- U.S. buyers continue procurement but demand heavy discounts, according to AEPC leadership.
- Spring orders arrived for garment exporters, but summer season orders remain sluggish.
- AEPC expects improvement following bilateral trade agreements and recent Union government support.
- Cotton Textiles Export Promotion Council noted slight improvement in yarn exports to China, while other markets weakened.
- Industry leaders urged the Centre to treat the textile sector as an integrated value chain and extend support across all segments.