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Readymade garment exports up in Jan
Mint Mumbai
|February 23, 2024
Key products such as crude oil, auto, chemicals, textiles etc. and steel have been affected by the Red Sea crisis
India's export of readymade garments grew significantly in terms of value in January as shipments stuck due to the Red Sea crisis were able to reach their destinations by taking the longer route around the Cape of Good Hope in Africa.
The export of ready-to-wear textile products increased 11% to $11.57 billion in January from $10.13 billion in December 2023, according to the commerce ministry data analyzed.
To be sure, volume data for these shipments was not available on the Niryat portal of the commerce ministry.
In the first 10 months (April 2023-January 2024) of the current fiscal year, the export of all textiles stood at $27.69 billion, less than the $29.41 billion in the corresponding months of 2022-23.
This story is from the February 23, 2024 edition of Mint Mumbai.
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