India’s overall exports witnessed a modest increase in November 2024, reaching $67.79 billion, a 9.59% growth compared to the same period in 2023. However, merchandise exports, a key sector for the Indian economy, experienced a slight decline, primarily attributed to a dip in petroleum exports.
Despite this, several key textile and apparel segments demonstrated robust growth. Ready-made garments of all textiles saw a commendable 9.81% increase, reaching $1.12 billion in November 2024. This positive trend underscores the resilience of the Indian textile industry amidst global challenges.
While the overall trade balance remains a concern with a widening merchandise trade deficit, the sustained growth in sectors like ready-made garments signals a positive outlook for the Indian textile industry. Continued focus on diversifying export markets and enhancing value addition within the textile value chain will be crucial for sustained growth and competitiveness in the global market.
