Data recap: Textile exports, IPO boom, gold loans
₹70,000 crore in FY25. India's textile exports slid 4.2% to $30.96 billion during April-February, data from the commerce ministry showed. The slowdown in major economies such as the European Union (EU), the US, and West Asian nations is believed to be the primary cause of this decline.
Within the textiles sector, ready-made garment exports contracted by 11.4%, while jute exports saw a decline of 22.5%. European countries, led by Germany, the Netherlands, Italy, Poland, and Denmark, are the primary buyers of Indian ready-made garments. Capital-raising via IPOs remains robust for the third consecutive year.
Next fiscal, too, 56 companies are planning to raise ₹70,000 crore, according to Prime Database. Of these, 19 companies have already obtained approval from the Securities and Exchange Board of India (Sebi) to raise nearly ₹25,000 crore in FY25. Besides, 37 companies are awaiting Sebi approval to raise approximately ₹45,000 crore.
In FY24, 265 companies went public and raised ₹90,878 crore through primary issuances and secondary sales. In FY22, a record ₹1.27 trillion was raised by 123 companies. ₹9.76 trillion: That’s the amount of state development loans (SDLs) raised by state governments so far in FY24, data from the Reserve Bank of India (RBI) showed.
SDLs are bonds issued by states to manage their revenue and fund their fiscal deficit. However, the collections may yet again miss the annual target. For this year, the target is to raise ₹10.88 trillion.
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