May textile exports dip over 12% as demand from Europe, US declines

India’s textile and apparel exports for the month of May dipped by 12.2 per cent year-on-year, mainly due to the decline in demand in the Europe and the United States market.  

Industry experts, however, foresee a reversal in the declining trend by July owing to moderating cotton prices and inflation in the West. Cumulative textile and apparel exports in May stood at $2,816.39 million, as compared to $3,206.43 million a year ago. Textile exports alone were down 12 per cent to $1,580.57 million, from $1,791.26 million last year. Apparel exports too dipped to $1,235.82 million, down 13 per cent from