India's textile and apparel export performance in 2024

In December 2024, India's textile and apparel exports reached USD 3.28 billion, marking a year-on-year increase of 12.8% and a month-on-month increase of 24.9%. Among this, textile exports accounted for USD 1.8 billion, up by 12.7%, while apparel exports reached USD 1.46 billion, growing by 12.9%. The cumulative export value of India's textile and apparel sector for 2024 was USD 36.3 billion, representing a growth of 7.1%. Within this, apparel exports grew by 8.4%, outpacing textile exports, which saw a 6.1% growth.

Monthly Export Trends in 2024

January saw a contraction in textile and apparel exports. For the rest of the year, exports showed varying degrees of growth, with October seeing a particularly large increase. In terms of product categories, textiles experienced YoY declines in January and August. Apparel had contractions in January and April, but showed growth in other months.

Share of Export Categories in 2024

Apparel exports accounted for 43.3% of India's total textile and apparel exports in 2024, showing a slight increase of 0.5 percentage points compared to the previous year. Within detailed export categories, apparel exports held the largest share. Cotton yarn and fabrics ranked second. Man-made fabrics came in third, with other categories holding smaller shares.

Export Performance by Product Category

Carpets and handicrafts (excluding carpets) performed well but had limited impact on overall export growth due to their smaller base. Apparel saw a growth of 8.4%, remaining the top export product. Cotton yarn and fabrics export growth was 4.3%, although exports contracted in July and August, with growth in other months. Man-made fabrics exports showed a YoY decline in January and March–April, but overall achieved a 3.5% growth by year-end.

Conclusion

India's textile and apparel sector performed well in 2024, with an overall export growth of 7.1%. Apparel remains the largest export category, followed by cotton yarn and man-made fabrics. The fastest-growing categories were handicrafts (excluding carpets) and carpets. Amidst rising tensions in the U.S.-China trade relations and restrictions like the Xinjiang cotton ban, India and other markets like Vietnam have absorbed some of China's export orders, contributing to the growth of their own markets. The market expansion for India is expected to continue in the coming years, capitalizing on this global shift.