October 6, 2020: Exports of cotton yarn, fabrics, madeups, handloom products etc from India showed a positive growth of 14.82 per cent in September 2020 compared to September 2019, according to the provisional data on merchandise trade released by the ministry of commerce and industry. Exports of readymade garments of all textiles also rose 10.21 per cent during the month.
In September 2020, India’s merchandise exports were $27.40 billion, as compared to $26.02 billion in September 2019, showing a positive growth of 5.27 per cent. However, exports during April-September 2020-21 were $125.06 billion, exhibiting a negative growth of 21.43 per cent over the same period last year.
On the other hand, the value of merchandise imports in September 2020 was $30.31 billion, as compared to $37.69 billion in September 2019, a decline of 19.60 per cent. Merchandise imports during April-September 2020-21 were $148.69 billion, as compared to $248.08 billion during the same period last year, exhibiting a negative growth of 40.06 per cent. India is thus a net importer in September 2020, with a trade deficit of $2.91 billion, as compared to trade deficit of $11.67 billion, showing a substantial improvement of 75.06 per cent.
Among the major commodities of export which have recorded positive growth during September 2020 vis-à-vis September 2019 are: carpet (42.89 per cent), handicrafts excluding handmade carpet (21.40 per cent), jute manufacturing including floor covering (18.62 per cent), cotton yarn/fabrics/madeups, handloom products etc. (14.82 per cent), and readymade garment of all textiles (10.21 per cent), the provisional data showed. However, export of manmade yarn, fabrics, madeups etc declined 9.13 per cent.
Cotton raw and waste import nosedived 82.02 per cent year-on-year in September 2020, the data showed.
Source: Fibre2Fashion.com
