Cotton textile exports to touch $15.29 billion in 2021-22

Need to look at sustainability of growth as there are supply chain bottlenecks: Texprocil official

Need to look at sustainability of growth as there are supply chain bottlenecks: Texprocil official

As per provisional data available, exports of cotton textiles including raw cotton stood at $15.29 billion in 2021-22.

Manoj Kumar Patodia, chairman of the Cotton Textiles Export Promotion Council (Texprocil), said the government’s target was $13.6 billion and 2020-2021 exports were $9.8 billion.

As per data from Texprocil, growth was witnessed in all cotton textiles and clothing products – Yarns, Fabrics and Madeups. A significant jump was seen in exports to countries like Bangladesh, USA, Portugal and Sri Lanka.

Siddharth Rajagopal, Executive Director, Texprocil said that yarn exports to China have increased and cotton textile exports to countries like Egypt and Portugal have also increased. This indicated that Indian exporters were exploring new markets. Export volumes have also increased, especially for yarn and fabric.

“We need to wait and see the stability of this growth as there are supply chain constraints, high raw material prices etc. These are adding to the concerns of the trade,” he said.

Industry sources said cotton prices are likely to remain high and Indian exporters should restructure their business model keeping in mind the higher raw material prices to remain competitive.

10 May, 2022, 12:55 pm