India's cotton exports rise 7% to $11.7 billion in FY24

India's cotton yarn, fabrics, and handloom exports defied the trend of declining overall exports in 2023-24, registering a healthy 6.71 per cent rise to $11.7 billion. This success story comes even as total merchandise exports dipped by 3 per cent.

The US remains the top buyer, accounting for over a quarter of these exports. Bangladesh, China, Sri Lanka, and the UAE follow closely. Interestingly, Indian exporters are reaching new markets like Serbia, Georgia, and Russia, indicating potential for further growth.

India's dominance as the world's largest cotton producer (23 per cent of global production) fuels this success. This sector is a major contributor to India's labor-intensive textile exports, with ambitious plans to reach $100 billion by 2030.

While overall trade dipped slightly, India's cotton textile exports are a bright spot, showcasing the country's strength in this sector and its potential for further expansion.