In a positive trend, India’s textile and apparel sector demonstrated remarkable growth in October 2024. As per the Quick Estimates released for the month of October 2024, Indian textile exports was higher by 11.56% while apparel exports increased by 35.06% as compared to October 2023.
Chairman CITI, Shri Rakesh Mehra, expressed optimism about this upward trajectory, highlighting the sector’s potential for robust and sustained growth. “This growth reflects not only the resilience and adaptability of our industry but also underscores India’s strengthening position in the global textile and apparel markets,” cited Shri Mehra.
Shri Mehra attributed this significant progress to multiple factors, including the increased market share of Indian T&A exports in the USA, as well as supportive government initiatives like the extension of the Remission of Duties and Taxes on Export Products (RoDTEP) and Interest Equalization Scheme (IES). He also highlighted the impact of the sector’s collective commitment to quality, innovation, and sustainable practices, positioning India as a preferred sourcing destination worldwide.
