India’s textile and apparel exports grew 14 per cent year-on-year in November. Apparel exports surged 21 per cent year on year in November. Exports of cotton yarn, fabric and handlooms advanced at a modest five per cent. Manmade yarn, fabric and made-up exports increased eight per cent year on year.

Growth in textile exports has been higher than the increase seen in other commodity-linked sectors. Sustained depreciation of the rupee against the dollar in the weeks preceding November also helped in increasing exports. Some orders came to India due to the ongoing trade war between the US and China.

The textile industry has also stabilised from the adverse effects that followed the implementation of GST and demonetization. The index of industrial production for textile and apparel saw a robust improvement in October. Textile and apparel registered a year on year growth of 6.2 per cent and 28 per cent respectively during the month. The stressed advances ratio for the textile industry has been improving continuously. Stressed advances ratio of the textile industry has come down to 18.7 per cent in September 2018 compared to 23.7 per cent in the same month the previous year.

However, the industry needs more support to fully utilise the opportunities arising out of the diversion of orders from China, the world’s largest producer and exporter of textile products.