Record Growth In Indian Textile Exports, US$ 44.4 Billion

Record growth in Indian textile exports, reaching US$ 44.4 billion: Government on Textiles Export FY22.

India’s textile and clothing exports have reached $44.4 billion in FY 2021-22, the highest for any fiscal year so far.

The government said on Tuesday that textile exports have reached $ 44.4 billion in the financial year 2021-22.

The government said that handicrafts are also included in the list of exports and the export is done in the financial year 2021-22 is 41 percent more than that of 2020-21.

At the same time, if we talk about the financial year 2019-20, it is 26 percent more.

Record growth in Indian Textiles Export FY22: In which countries how much was exported.

According to the Ministry of Textiles, India accounts for the largest 27 percent of textile and apparel exports to the US.

This is followed by the European Union at 18 percent. At the same time, 12 percent has been exported to Bangladesh and 6 percent to the United Arab Emirates.

There was an increase of several percent in the export of cotton textiles.

In terms of product category, exports of cotton textiles stood at $17.2 billion, an official statement said. It accounts for 39 percent of the total exports.

There has been an increase of 54 percent in the export of cotton textiles in this financial year as compared to the financial year 2020-21 and 67 percent in comparison to 2019-20.

So much export of ready-made clothes.

Apart from this, if we talk about ready-made garments, then its exports account for 36 percent.

With this, the export of finished garments stood at $16 billion, which is 31 percent higher during 2021-22 over FY 2020-21 and 3 percent over 2019-20.

Share of handicrafts and man-made textiles.

According to the ministry, the total exports of man-made textiles and apparel accounted for 14 percent with $6.3 billion, and handicrafts with $2.1 billion accounted for 5 percent.

GST Collection: For the third consecutive month, the GST collection crossed 1.40 lakh crore, in May, the GST collection stood at Rs 1.41 lakh crore.

The government has received Rs 1.41 lakh crore from the Goods and Services Tax in May. The Finance Ministry gave this information on Wednesday.

The GST collection has increased by 44 percent as compared to the same period last year. For the last two months, there was a steady increase in the GST collection.

A record Rs 1.68 lakh crore GST collection was done in April. The GST revenue in March was Rs 1.42 lakh crore and in February was Rs 1.33 lakh crore.