Engineering, textile and apparel exports grew over 6 % in 2024-2025 over the previous year, according to data shared by the Commerce Ministry.
Engineering goods shipments grew 6.74 % year-on-year in 2024-25 over the previous year, touching $116.67 billion in 2024–2025 compared with $109.3 billion in 2023-2024. Textile and apparel exports registered 6.32 % growth in FY 25 compared with FY 24. The increase was driven mainly by apparel exports, which grew by 10.03%.
However, the additional duties imposed by the US on iron and steel and auto components are set to hit the engineering exports sector, according to EEPC India. There can be a potential annual drop of $4-5 billion in engineering shipments to the US. Besides, there will be massive competition from China in other markets as it will push its products, chasing new regions to de-risk the US, said Pankaj Chadha, chairman of EEPC India
The impact of the ongoing trade tariff war is already visible. In March 2024, the value of Indian engineering goods exports declined nearly 4% year-on-year to $10.82 billion as compared to $ 11.27 billion in the same month last year, he said.
Chairman of the Confederation of Indian Textile Industry Rakesh Mehra said the industry is optimistic about maintaining this growth trajectory, especially in light of the evolving global trade dynamics. “The ongoing trade tensions between the U.S. and China present a strategic opportunity for India. With the U.S. actively seeking to diversify its sourcing base beyond China, India is well-positioned to emerge as a reliable and preferred partner,” he said.
Published – April 18, 2025 09:49 pm IST