From January to April 2023, India imported 251.533 million kilograms of yarn from China, accounting for 68.86% of the total yarn imports, and the import value increased by 17.43% year-on-year. High domestic raw material costs have led to a surge in yarn imports, challenging the Indian spinning industry but benefiting the weaving industry.
From January to April 2023, India imported 251.533 million kilograms of yarn from China, accounting for 68.86% of India's total yarn imports. The import value was 448.634 million US dollars, an increase of 17.43% compared with the same period of the previous year. The reason for the large amount of imported yarn is that the price of raw materials in India has increased, making imported yarn more cost-effective.
From January to April 2022, the value of India's yarn imports from China was $384.003 million. However, compared with the import value of 432.306 million US dollars in the first four months of 2021, the import value decreased by 11.17%. In 2020 and the same period in 2019, India's yarn imports were $150.655 million and $162.227 million, respectively.
In 2022, India's yarn imports will be 503.122 million kilograms with a total value of $1,359.584 million. This represents an increase from 487.956 million kg ($1,094.979 million) in 2021, 246.586 million kg ($513.958 million) in 2020 and 178.995 million kg ($524.742 million) in 2019.
The increase in imported yarn has created challenges for India's domestic spinning industry due to reduced demand, but the weaving industry has benefited from the availability of cheap imported yarn. In addition, slowing apparel demand from global and domestic markets has also had an impact on the industry.
According to TexPro, in the first four months of 2023, India's yarn imports totaled $654.816 million. Among the top five yarn suppliers in India, China is the main supplier, accounting for 68.86% of the total imports. Other major suppliers for the January-April 2023 period include Indonesia (5.11%), Nepal (4.1%), Vietnam (4%) and Bangladesh (3.60%). Source: Textile Raw Materials Network
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