Despite container shortage and a shipping crisis capsizing the sector, India’s textile industry has managed to weave a revival story. It is in a sweet spot, largely because of the China Plus One policy of European and US apparel brands, and the ban on Chinese cotton by the US.
Based on the latest available data, the export of ready-made garments (RMG) of all textiles increased 67 per cent during the first five months of the current fiscal year, showing signs of recovery.
From April-August this fiscal year, revenue from RMG exports was seen at $6.02 billion, up from $3.6 billion during the