Indian textile and apparel industries struggle - sportstextiles: Lea SportsTextiles

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Indian textile and apparel industries struggle

02/11/2020

International media has reported that India’s textile and apparel industries are struggling to regain their pre-covid-19 momentum.  

According to data from India’s Ministry of Commerce and Industry, the country’s textile and apparel exports decreased by 87.5% (year on year) in April 2020. Between April and September 2020, India’s combined textile and apparel exports totalled approximately $11 billion USD, a year-on-year decrease of around 31.7%. Apparel exports declined most significantly, dropping 39.3% on the previous year.   

In mid-October, India’s ICRA (formerly Investment Information and Credit Rating Agency of India) predicted that Indian apparel exporters’ sales revenue may fall by between 20% and 25% for the 2020-21 fiscal year. The revenue of manufacturers focusing on the domestic market is expected to fall by between 30% and 40%.  

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