Textile exports registered 41% growth during Apr-Dec 2021
By IANS | Published: January 12, 2022 11:03 PM2022-01-12T23:03:05+5:302022-01-12T23:15:07+5:30
New Delhi, Jan 12 During the period between April and December, 2021, total textiles and apparels exports, including ...
New Delhi, Jan 12 During the period between April and December, 2021, total textiles and apparels exports, including handicrafts, stood at $29.8 billion as compared to $21.2 billion recorded for the corresponding period of the previous year.
This implies a robust growth of approximately 41 per cent as compared to the year ago period, the Ministry of Textiles said in a statement on Wednesday.
In FY 2020-21, there was a deceleration in textile exports due to the Covid-19 pandemic that disrupted the supply chain and demand.
However, signs of recovery are visible in FY 2021-22 and this growth signals an economic rebound, the statement said.
The government has set a target of $44 billion for textiles and apparel exports, including handicrafts, and approximately 68 per cent of the annual target has already been achieved.
The last quarter of a financial year always has higher activity than the earlier ones. Even compared to the pre-pandemic year, i.e., 2019-20, textile sector exports increased by 14.6 per cent in April- December 2021 as compared to April-December 2019.
Textiles exhibited an increase in exports of 31 per cent, cotton yarn/fabrics/made-ups, handloom products etc. exhibited an increase of 43 per cent and jute products exhibited an increase of 33 per cent in the April-December 2021 period as compared to April-December, 2019.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
Open in app