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Textile exports up 41% during Apr-Dec 2021
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SME Times News Bureau | 13 Jan, 2022
During the period between April and December, 2021, total textiles and
apparels exports, including handicrafts, stood at $29.8 billion as
compared to $21.2 billion recorded for the corresponding period of the
previous year.
This implies a robust growth of approximately 41
per cent as compared to the year ago period, the Ministry of Textiles
said in a statement on Wednesday.
In FY 2020-21, there was a
deceleration in textile exports due to the Covid-19 pandemic that
disrupted the supply chain and demand.
However, signs of recovery are visible in FY 2021-22 and this growth signals an economic rebound, the statement said.
The
government has set a target of $44 billion for textiles and apparel
exports, including handicrafts, and approximately 68 per cent of the
annual target has already been achieved.
The last quarter of a
financial year always has higher activity than the earlier ones. Even
compared to the pre-pandemic year, i.e., 2019-20, textile sector exports
increased by 14.6 per cent in April- December 2021 as compared to
April-December 2019.
Textiles exhibited an increase in exports
of 31 per cent, cotton yarn/fabrics/made-ups, handloom products etc.
exhibited an increase of 43 per cent and jute products exhibited an
increase of 33 per cent in the April-December 2021 period as compared to
April-December, 2019.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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