Textiles Export FY22: Record growth in Indian textile exports, reaching US$ 44.4 billion
The government said that handcrafts are also included in the list of exports and the export done in the financial year 2021-22 is 41 percent more than that of 2020-21. At the same time, if we talk about the financial year 2019-20, it is 26 percent more.
India's textile and clothing exports have reached $44.4 billion in FY 2021-22, the highest for any fiscal year so far. The government said on Tuesday that textile exports have reached $ 44.4 billion in the financial year 2021-22.
According to the Ministry of Textiles, India accounts for the largest 27 percent of textile and apparel exports to the US. This is followed by the European Union at 18 percent. At the same time, 12 percent has been exported to Bangladesh and 6 percent to the United Arab Emirates.
In terms of product category, exports of cotton textiles stood at $17.2 billion, an official statement said. It accounts for 39 percent of the total exports. There has been an increase of 54 percent in the export of cotton textiles in this financial year as compared to the financial year 2020-21 and by 67 percent in comparison to 2019-20.
According to the ministry, the total exports of man-made textiles and apparel accounted for 14 percent with $6.3 billion and handicrafts with $2.1 billion accounted for 5 percent.