Need to watch sustainability of growth as there are supply chain constraints: Texprocil official
Need to watch sustainability of growth as there are supply chain constraints: Texprocil official
Cotton textile exports, including raw cotton, in 2021-22 were $15.29 billion, according to provisional data available.
Manoj Kumar Patodia, chairman of Cotton Textiles Export Promotion Council (Texprocil), said the government target was $13.6 billion and 2020-2021 exports were $9.8 billion.
All cotton textile and clothing products – yarn, fabrics, and madeups – had seen growth, according to data with Texprocil. Exports to countries such as Bangladesh, U.S., Portugal and Sri Lanka had seen a significant jump.
Executive Director of Texprocil Siddhartha Rajagopal said yarn exports to China had increased and cotton textile exports to countries such as Egypt and Portugal had also increased. It indicated that Indian exporters were finding new markets. There had been an increase in volume of exports too, especially for yarn and fabrics.
“We need to wait and watch the sustainability of this growth as there are supply chain constraints, high raw material prices, etc. These are adding to the worries of the trade,” he added.
Prices of cotton may remain high and Indian exporters should rebuild their business model, factoring in high raw material prices, to remain competitive, industry sources said.
