India's textile, handicraft exports at record $44 billion in FY22

Category: General

Country: India

Textiles Secretary Singh said the demand for textiles in the domestic and overseas markets is high 

PTI, Noida, JUL 13 2022, 01:30 ISTUPDATED: JUL 13 2022, 01:30 IST

India exported textiles and handicrafts worth more than USD 44 billion -- an all-time high -- last financial year, Textiles Secretary U P Singh said on Tuesday.

He was speaking at an industry event in Greater Noida which was inaugurated by Union Minister of State for Textiles and Railways Darshana Vikram Jardosh.

Jardosh, while inaugurating the 11th edition of HGH India 2022, said the country is celebrating its 75th year of Independence and it is the best time to showcase made-in-India products.

Textiles Secretary Singh said the demand for textiles in the domestic and overseas markets is high.

"In India, whenever we talk of textiles, we always go by the export figures. It's a matter of satisfaction that last financial year, India exported more than USD 44 billion worth of textiles and handicrafts, which is an all-time record," a statement quoted Singh as saying.

"Especially after the pandemic, one sector under textile which has really got a boost has been home textile. The government has also launched 7 mega textile parks that would take care of the high logistics cost as well as the fragmented value chain which we have," he added.

Most of the major exporting destinations like the US and EU are all going for a 'China plus one' strategy, which will prove to be beneficial for India since the cost of labour is low as compared to the neighbouring country, he said.

Courtesy: https://www.deccanherald.com/national/north-and-central/indias-textile-handicraft-exports-at-record-44-billion-in-fy22-1126169.html