The rupee has moved. Exports have not
India’s textile and garment exports rose *.* per cent in rupee terms in FY** to ****;*,**,***.* crore, roughly $**.* billion at ****;**.** per dollar. But the dollar reading told the harder truth: exports fell from $**.* billion in FY** to $**.* billion in FY**. Cotton textiles declined *.* per cent in dollar terms, ready-made garments slipped *.* per cent and carpets fell *.* per cent.
That contrast matters because the rupee has weakened from around ****;**/$ in FY** to near ****;**/$ in ****. If depreciation alone could create competitiveness, India’s textile export curve would look far steeper. Instead, exports have moved from $**.** billion in FY** to $**.** billion in FY**, a decade CAGR of only *.** per cent.
TexPro shows the lost apparel opportunity
