Web Exclusive | June 2018
Slight rise in India's T&C export
India's textile and clothing exports in 2017-18 rose marginally by 0.7 per cent totaling to $36737.93 million over the previous fiscal as per data released by the Ministry of Commerce, India. But the textile and clothing exporters have failed to meet the target $45000 million set by the government of India. The T&C exports account for 12 per cent of the country's total exports for the last fiscal year, whereas for 2016-17 it was 13 per cent and 14 per cent for 2015-16. Apparel exports have been dominating the sector for quite a long time now and currently apparels stake 46 per cent of the total T&C exports share, but has witnessed a negative growth of -7.5 per cent in 2017-18. Followed by apparels are cotton exports with 19 per cent share and a growth of 6.4 per cent.
Countrywise, USA remains the topmost market for India's T&C exports. Exports to USA have witnessed a growth of 1.6 per cent to $7745.51 million in the last fiscal and accounts for a share of 21 per cent in India's total T&C exports. Apparel exports are ruling the basket in USA market with total of $3864.53 million and it accounts 50 per cent share from the total T&C export to USA.
UAE is second topmost market for India's T&C exports, but the country has lost it export value by -28 per cent totaling to $3421.68 million in 2017-18 and accounts for a share of 9 per cent in India's total T&C exports. Here too apparel exports are ruling the basket, but the export value has dropped drastically by -57.3 per cent totaling to $2817.35 million in the last fiscal. Bangladesh has taken the third position from UK, with exports totaling to $2308.91 million, an increase by 8.3 per cent whereas UK exports totaled to $2275.61 million with an increase growth of 3.52 per cent. The other top six T&C export markets for India are Germany, China, Spain, Italy, France and Turkey respective to their T&C export value.
Region-wise, Asia is the largest market for India's T&C commodities. The T&C exports to Asia totaled $13395.39 million in 2017-18, but the export value dropped by -6.53 per cent. Cotton was majorly exported in Asia; the export value totaled to $5062.09 million and perceived a growth of 2.7 per cent in 2017-18 over the previous fiscal. Apparel is the second major commodity exported in Asia, the export value touched to $4762.36 million, but export value has dropped massively by -37.72 per cent in 2017-18 over the previous fiscal.