India’s apparel exports grew 30.2 per cent year-on-year to $4439.2 million in the first three months of current fiscal 2022-23, as per estimates of Ministry of Commerce and Industry. India’s RMG exports grew 3.80 per cent in the April-June 2022 period to reach $1449.3 million in June 2022, against export of $1003.3 million in June 2021, showing a growth of 44.67 per cent.
An analysis of Confederation of Indian Textile Industry (CITI) based on the ministry’s data, shows, India’s exports of cotton yarn, fabrics, made-ups and handloom products etc, declined 22.5 per cent to $3124 million during the first three months of current fiscal, against the export of $3364.4 million in the same period of last fiscal. In June 2022, the exports declined to $925.2 million against the export of $1194.5 million n June 2021.
India’s overall merchandise exports increased by 16.78 per cent to $37.94 billion in June 2022 against $32.49 billion achieved in June 2021. The country’s merchandise export during April-June 2022 increased by 22,22 per cent to $116.77 billion against $95.54 billion worth of exports during April-June 2021.
India’s total merchandise import s increased by 51.02 per cent to 63.58 billion in June 2022 against $42.1 billion imports in June 2021. India’s merchandise import in April-June 2022-23 increased by 47.31 per cent to $187.02 billion against $126.96 billion in April-June 2021-22.