India exported ready-made garments worth over 433 billion Indian rupees to the United States in fiscal year 2023. RMG was one among the leading export commodities of the country. During fiscal year 2023, RMG cotton accounted for the largest value among textile exports.
RMG silk and woolen garments
Over the last few years, India emerged as one of the major exporters of woolen garments. The export value of ready-made woolen garments from the country was higher than that of silk garments in the fiscal year of 2019. The majority of wool production, on the other hand, comes from ewes, due to their population. However, lamb and ram together contribute to about one-third of the wool production.
India’s apparel market
India is the world's second-largest textile and clothing exporter. According to research, the Indian apparel market value would be worth nearly 77 billion U.S. dollars by 2022. Moreover, the value of the domestic apparel market in the country has also had significant growth. The demand for textiles is mainly driven by increased penetration of the organized sector. This was evident with the inflow of FDI in the sector in the last decade.
Value of ready-made garments exported from India in financial year 2023, by leading destination
(in billion Indian rupees)
Characteristic
Export value in billion Indian rupees
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India's financial year begins in April and ends in March. For example, FY 2016 started in April 2015 and ended in March 2016.
One Indian rupee is equal to 0.012 U.S dollars and 0.011 euros (as of October 2023).
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Reserve Bank of India. (September 15, 2023). Value of ready-made garments exported from India in financial year 2023, by leading destination (in billion Indian rupees) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/624885/export-value-of-ready-made-garments-by-country-india/
Reserve Bank of India. "Value of ready-made garments exported from India in financial year 2023, by leading destination (in billion Indian rupees)." Chart. September 15, 2023. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/624885/export-value-of-ready-made-garments-by-country-india/
Reserve Bank of India. (2023). Value of ready-made garments exported from India in financial year 2023, by leading destination (in billion Indian rupees). Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/624885/export-value-of-ready-made-garments-by-country-india/
Reserve Bank of India. "Value of Ready-made Garments Exported from India in Financial Year 2023, by Leading Destination (in Billion Indian Rupees)." Statista, Statista Inc., 15 Sep 2023, https://www.statista.com/statistics/624885/export-value-of-ready-made-garments-by-country-india/
Reserve Bank of India, Value of ready-made garments exported from India in financial year 2023, by leading destination (in billion Indian rupees) Statista, https://www.statista.com/statistics/624885/export-value-of-ready-made-garments-by-country-india/ (last visited September 01, 2024)
Value of ready-made garments exported from India in financial year 2023, by leading destination (in billion Indian rupees) [Graph], Reserve Bank of India, September 15, 2023. [Online]. Available: https://www.statista.com/statistics/624885/export-value-of-ready-made-garments-by-country-india/