India’s apparel exports have grown significantly by 44 per cent during April-October period of FY ’22 on year-on-year basis, clocking US $ 8.59 billion revenues.
The data was released by Ministry of Commerce and Industry, India and further analysed by Team Apparel Resources…
There is no change in top three destinations (USA, UAE and UK) that imported ‘Made in India’ garments during Apr.-Oct. period this year.
India shipped US $ 2.71 billion worth of garments to USA which is the largest apparel export destination for the country, registering over 70 per cent growth.
Apparel shipment to UAE valued US $ 1.27 billion, noting a sharp increase of 61.47 per cent on Y-o-Y basis.
UK imported US $ 745.60 million worth of apparels from India in the review period, upping its values by 42.47 per cent.
Despite growth, the exports couldn’t surpass pre-COVID values as, in April-October of FY ’20, the apparel export of India had fetched US $ 9 billion revenues – approximately US $ 410 million more than the corresponding period this year!