India's textile exports reached a new record of $44.4 billion in FY22: Govenment

India's textile and apparel exports hit a new high of USD 44.4 billion in the fiscal year 2021-22, according to the government. The total exports statistic, which includes handicrafts, shows a significant growth of 41% and 26% over the corresponding figures in FY21 and FY20, respectively.

According to the textiles ministry, the United States was the main export destination for the country's textiles and apparel shipments, accounting for 27% of total shipments, followed by the European Union (18%), Bangladesh (12%), and the United Arab Emirates (UAE) (6%). "In terms of product categories, cotton textiles accounted for USD 17.2 billion in exports, with a 39 percent share reporting increases of 54 percent and 67 percent over FY21 and FY20, respectively," according to an official release.

Exports of ready-made clothes reached USD 16 billion in 2021-22, with a 36% share, representing a growth of 31% and 3% over FY21 and FY20, respectively.

Exports of man-made textiles were USD 6.3 billion, accounting for 14% of total exports, representing a rise of 51% and 18% over FY21 and FY20, respectively, in 2021-22.

The textiles ministry reported that handicraft exports were USD 2.1 billion, with a 5% stake, with increases of 22% and 16% over FY21 and FY20, respectively, in 2021-22.