Current Affair 1:

 

News:

India is the 6th largest exporter of Textiles & Apparel in the world in 2023. The share of textile and apparel (T&A) including handicrafts in India’s total exports stands at a significant 8.21% in 2023-24. Our country has a share of 3.9% of the global trade in textiles and apparel.

Major textile and apparel export destinations for India are USA and EU and with around 47% share in total textile and apparel exports.

India is a major textile and apparel exporting country and enjoys trade surplus.  Bulk of import takes place for re-export or for industry requirement of raw material.

The overall export of Textiles & Apparel (incl. handicrafts) marked a growth of 7% during April-October period of FY 2024-25 ($ 21,358 Mn) compared to same period of FY 2023-24 ($ 20,007 Mn).

Ready Made Garments (RMG) category with export of $ 8,733 Mn has the largest share (41%) in the total exports ($ 21,358 Mn).

 

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