India’s apparel imports from China almost doubled quarter on quarter (QoQ) to $126.202 million in July-September 2022 due to price dynamics. Domestic demand is getting affected due to rising imports from China, according to trade sources. Both countries compete mutually in the global market, but India imports more apparel from China than it exports.
India’s apparel imports increased to $126.202 million in Q3 2022 from $67.442 million in Q2 2022. The inbound trade stood at $70.687 million in Q1 2022, $95.937 million in Q4 2021, $90.360 million in Q3 2021 and $40.770 million in Q2 2021. The average monthly imports also doubled. It went up to $42.808 million in September 2022, $45.914 million in August 2022 and $37.479 million in July 2022. It was recorded at $17.441 million in April 2022, $16.982 million in May 2022 and $33.018 million in June 2022, according to Fibre2Fashion’s market insight tool TexPro.
Annually, the imports amounted to $215 million in 2021, $244.748 million in 2020, $249.692 million in 2019, $230.970 million in 2018 and $212.095 million in 2017. Imports already crossed last year’s shipment to reach $218.236 million in the first nine months of the current year, as per TexPro.
In terms of volume, India imported 187.846 million apparel products (in numbers) in the first nine months of this year. The volume of imports was 343.987 million units in 2021, 193.579 million units in 2020, 282.617 million units in 2019, 274.376 million units in 2018 and 138.268 million units in 2017.
Fibre2Fashion News Desk (KUL)