India has recorded its highest-ever textiles and apparel exports at $44.4 billion, including Handicrafts, in the financial year 2022, indicating an increase of 41 per cent over FY21 and 26 per cent over FY20, said the Ministry of Textiles in a statement on Tuesday.
The statement also added that the USA was the top export destination for the nation’s textiles and apparel shipments and accounted for 27 per cent share. European Union stood second with 18 per cent shipments, Bangladesh was in the third position with 12 per cent and UAE stands in fourth place with 6 per cent.
"In terms of product categories, the export of cotton textiles was $17.2 billion with 39 per cent share registering a growth of 54 per cent and 67 per cent during 2021-22 over FY21 and FY20, respectively," reads the statement.
Export of ready-made garments was at $16 billion with 36 per cent share in FY22, up 31 per cent against the last year. Man-made textiles exports were at $6.3 billion with a 14 per cent share in the previous financial year, a growth of 51 per cent against FY21 and 18 per cent over FY20.
Handicrafts export was at $2.1 billion with a 5 per cent share against total textiles and apparel exports during FY22, showing an increase of 22 per cent and 16 per cent over FY21 and FY20, respectively.
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