India’s textile and apparel exports are on an impressive trajectory, reaching a remarkable $23 billion by November 2024. This growth has been particularly noteworthy during the initial eight months of the fiscal year, witnessing a substantial increase in exports, especially in apparel, which saw a significant rise. However, it is worth noting that the pace of overall export growth experienced a slight deceleration in November compared to the previous month.
One of the key factors behind this upswing appears to be the redirection of orders from Bangladesh, which has enabled India to enhance its position in the global textile arena. This shift has opened new avenues for Indian exporters, further solidifying their footprint in a highly competitive market.
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Overall, India’s textile sector is poised for continued growth, capitalizing on evolving market dynamics and increasing global demand.