RMG exports fail to touch pre-Covid level; slowdown concerns remain

In November and December 2022-23, RMG exports saw a rise of 12 per cent and 1 per cent respectively

When India’s ready-made garments (RMG) exports were expected to touch the pre-Covid level, the ongoing recession and war in the Westerns world have become a roadblock for the sector. RMG exports from India touched $11.841 billion during the first nine months of the financial year 2022-23, up 6.5 per cent from $11.123 billion in 2021-22, based on data shared by Tirupur Exporters Association (TEA).

The current year’s numbers are 44 per cent higher compared to first nine months of 2020-21 ($8.199 billion), while it had already touched $12.386 billion during the April to December period of 2017-18. In November