India has been known for its rich textile heritage for centuries, and it has now established itself as a major player in the global textile export market. With a diverse range of textiles, traditional craftsmanship, and modern technology, India has become a go-to destination for textile importers around the world. The Indian textile and apparel industry is worth more than $100 billion, employs more than 45 million people, and accounts for 14% of the country's industrial output. In this blog, we will discuss briefly about Textile export market in India.
Export market of Indian textiles:
The export market of Indian textiles has grown tremendously in recent years. The government has implemented various schemes to support the textile industry's growth and development, such as the Textile Upgradation Fund Scheme (TUFS), which provides financial support to upgrade technology and infrastructure. Additionally, the government has also implemented policies to simplify export procedures, such as the introduction of the Electronic Data Interchange (EDI) system for customs clearance.
India exports a wide range of textiles, including cotton, silk, wool, jute, and synthetic fibers. These textiles are used to make a variety of products, such as garments, home textiles, carpets, and handicrafts. The major markets for Indian textile exports are the United States, the European Union, and the United Arab Emirates. If you need updated and most recent textile export data, the EximPedia dashboard helps you to provide authentic market details for Indian Textiles.
Import market of Indian textiles:
In addition to being a major exporter of textiles, India also imports textiles from other countries. The major imported textiles include synthetic fibers, raw cotton, and silk. The main sources of textile imports for India are China, Bangladesh, and Vietnam.
According to import export data for textiles, the textile imports were estimated at Rs 433 billion between April and November 2022. Textile imports totaled Rs. 313 billion during the same period the previous year. Imports have increased in recent months, particularly after the outbreak of the Russia-Ukraine war, from Rs 43 billion in March 2022 to Rs 51 billion in November 2022.
India's textile industry is one of the largest in the world, and its exports have been steadily increasing in recent years. According to the Fabric Export Data, the value of textile exports from India was USD 25.7 billion in 2019-20, which was a 5% increase from the previous year. The major textile products exported from India include cotton yarn, fabrics, and made-ups.
Major Textile hubs in India
These are the top textiles hubs in India:
- NCR
- Gujarat
- Maharashtra
- Uttar Pradesh
- West Bengal
- Tamil Nadu
- Madhya Pradesh
- Rajasthan
Government Initiatives for Textile Industry- 2022
The Indian government has developed a number of export promotion strategies for the textile industry. It also permitted 100% FDI in the sector via the automated approach.
Mr. M. K. Stalin, Chief Minister of Tamil Nadu, announced the establishment of a "Textile City" in Chennai as part of the state's strategy to become a significant player in the global textile industry. Furthermore, the state will construct a 1,500-acre textile park in the Virudhunagar district, for which SIPCOT will purchase the property.
The Indian government intends to construct 75 textile hubs comparable to Tiruppur, which will significantly enhance employment possibilities while increasing textile exports and assuring the use of environmentally friendly technology.
The United Nations Climate Change entity's Sustainable Textiles for Sustainable Development (SusTex) project improves the employment and working conditions of textile artisans while encouraging the sustainable manufacture and use of ecologically friendly textiles.
The CoEK will attempt to bring new designs and techniques that adhere to international standards in order to develop novel fabrics and clothes that will fulfill the needs of both domestic and overseas consumers.
Who are the top 5 countries for the textile export market?
According to Textile Export Data, the top 5 countries for Indian textile exports are:
United States: The United States is the largest market for Indian textiles, accounting for 15.8% of India's total textile exports. The major textile products exported to the United States are cotton yarn, fabrics, and made-ups.
United Arab Emirates (UAE): The UAE is the second-largest market for Indian textiles, accounting for 14.3% of India's total textile exports. The major textile products exported to the UAE are cotton yarn, fabrics, and made-ups.
United Kingdom: The United Kingdom is the third-largest market for Indian textiles, accounting for 11.6% of India's total textile exports according to export data of textiles. The major textile products exported to the UK are cotton yarn, fabrics, and made-ups.
Germany: Germany is the fourth-largest market for Indian textiles, accounting for 7.3% of India's total textile exports. The major textile products exported to Germany are cotton yarn, fabrics, and made-ups according to export data of fabrics.
Bangladesh: Bangladesh is the fifth-largest market for Indian textiles, accounting for 6.2% of India's total textile exports. The major textile products exported to Bangladesh are cotton yarn, fabrics, and made-ups. Get Bangladesh Import Data
How to get updated Textile Export Import Data?
The Indian textile industry has established itself as a major player in the global textile market. Its rich heritage, skilled workforce, and modern technology have helped it to compete globally. The industry's exports have been steadily increasing, and the government's policies and schemes have provided support for its growth and development.
The industry's future looks bright, and it is expected to continue to grow and thrive in the coming years. EximPedia is an Export Import Data Provider dashboard that offers reliable, up-to-date, and authentic international trade data of textiles, India Export Data for 100+ countries. For the fabric market, we provide Indian import data, and Indian Trade data. Thus, if you're seeking global statistics, go no further than EximPedia's greatest and most reliable data-driven dashboard.
