New Delhi: The textile sector shows recovery from a deceleration due to pandemic that disrupted the supply chain and demand in 2020, and registers 41 per cent growth during April – December 2021 as compared to last year.
During April-December, 2021 the total Textiles and Apparel including Handicrafts exports was US$ 29.8 billion as compared to US$ 21.2 billion for the same period last year, implying a growth of 41% over last year. The growth signals an economic rebound, the Ministry of Textiles stated here today.
Even compared to pre-pandemic year, that is 2019-20 export for textile sector (Textiles and Apparel including Handicrafts) increased by 14.6% from April- December 2021 as compared to April-December 2019. Textiles exhibited an increase in export of 31%, Cotton Yarn/ Fabrics/ Made-ups, Handloom products etc. exhibited an increase of 43% and Jute products exhibited an increase of 33% from April- December 2021 as compared to April-December, 2019.
Government has set the target of $44 billion for Textiles & Apparel including Handicrafts and approximately 68% of annual target has already been achieved.
“The last quarter of FY always has higher activity than the earlier quarters. Hence industry is hopeful that targets will be duly met,” the Ministry stated.
-global bihari bureau
