Rupee near 94/$ (↓8% YoY) vs yuan strength (+6%+) boosts pricing edge, yet India’s exports stayed flat at $37 billion in 2025.
February 2026 readymade garment exports fell 8.6 per cent, cotton textiles down 1.31 per cent.
Rising costs—₹12–55/garment freight, oil near $120 per barrel—erode gains.
With 4.5 million bale cotton imports and China exports up 22 per cent, FX tailwind remains limited.