India's cotton textile exports registered mixed performance in fiscal year 2023-24, with some sectors showing robust growth while others facing a decrease. Overall, the combined export value of cotton textiles and raw cotton was $11,517.73 million, a 11.23 per cent increase compared to previous year.

Cotton yarn emerges as the star performer

Cotton yarn led the growth story, registering a remarkable 37.25 per cent increase in export value, reaching $3,777.57 million. This rise was further supported by an 83.18 per cent increase in export quantity, indicating both higher volumes and potentially better prices. The impressive performance of cotton yarn significantly contributed to the overall positive growth in the cotton textiles sector.

Madeups hold steady, fabrics face challenges

Cotton madeups, another key export category, demonstrated resilience with a modest 1.75 per cent growth, reaching $4,372.29 million. However, cotton fabrics exports faced a setback, declining by 10.75 per cent to $2,252.39 million. This could be attributed to various factors, including global economic conditions and increased competition in the international market.

Raw cotton exports grow

Raw cotton exports also witnessed a substantial increase of 42.75 per cent, reaching $1,115.49 million. This growth aligns with the increased demand for cotton yarn, suggesting a potential shift towards value addition within the domestic textile industry.

In terms of export destinations, the US remained top importer of Indian cotton textiles, accounting for 25.26 per cent of the total exports. Bangladesh followed closely at 17.14 per cent, a significant increase from previous year. China emerged as a notable market, with a remarkable 206.06 per cent growth in imports of Indian cotton textiles.

Table: India's cotton textile exports 2022-23 and 2023-24

Overall, Indian cotton textile industry demonstrated a mixed performance in 2023-24, with cotton yarn emerging as the driving force behind the overall growth. While challenges persist in certain segments like cotton fabrics, the industry's resilience and adaptability are evident. The substantial increase in raw cotton exports further underscores the potential for value addition and growth within the domestic textile sector. As the global economic landscape evolves, the Indian cotton textile industry will need to continue innovating and diversifying to maintain its competitive edge in the international market.