Recently, there is a slowdown in the exports of the textile from UK/Europe and USA. The experts believe that the demand for the momentum will be gradually recovering from the first quarter of FY24. There is a freight of cotton costs which will show moderation and inventory exhausts with the retailers.
The home textile exports from India will be falling by 16 to 18% in FY23. There is also a slowdown in the demand from the USA and Europe. The overall rate has fallen by 13.4% on a year-on-year basis. The pandemic has induced demand and has gained help according to the reports. The home textile has seen a report of 34% growth.
The demand for exports was dented in key raw material prices which also hurts the demand. There is a significant increase in cotton after May 2022. There is a decline in the demand (in exports). The prices of raw cotton have cooled down to Rs.65,000 per candy in October 2022.
