In November 2018 Indian textiles and apparel exports grew 14 per cent compared to November 2017. Over the same period apparel exports jumped 21 per cent. In October 2018, textile production rose 6.2 per cent as compared to October 2017. Apparel production rose 28 per cent.

The stressed advance ratio of the textile sub-sector has been improving continuously. From 23.70 per cent in September 2017, the stressed advance ratio of the textile sector has come down to 18.70 per cent in September 2018. For the period between April and November, textile and apparel exports grew seven per cent.

The old duty drawback rate which was very attractive came to an end in September 2017. Because of this attractive scheme, Indian exporters advanced their delivery schedules to avail of the duty drawback scheme. Consequently, textile and apparel exports skyrocketed in September 2017. Exports one year later in September 2018, declined sharply. From that level, however, exports are normalizing which is believed to continue in future as well to end the current financial year flat.

India’s share in world trade in textile and clothing is estimated to be 4.95 per cent. With these exports, India is ranked second among suppliers in the world.