Consistent Export Growth: 8.40% CAGR Over 7 Years
India's exports under HSN Chapter 60 have grown at a compound annual rate of 8.40% over 7 fiscal years, rising from ₹3,080.25 Crore in FY 2018-19 to ₹4,998.91 Crore in FY 2024-25.
60 HSN Code: Knitted/Crocheted Fabrics
HSN Chapter 60 represents Knitted/Crocheted Fabrics under GST classification. This code helps businesses identify Knitted/Crocheted Fabrics correctly for billing, taxation, and trade purposes. With HSN Chapter 60, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Knitted/Crocheted Fabrics.
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Sub-chapters under HSN Chapter 60
Following Sub Chapters fall under Knitted/Crocheted Fabrics:
Sub Chapter
New GST Rate
Old GST Rate
Description
Sub Chapter
New GST Rate
0
%
Exempted
Old GST Rate
0
%
Description
Pile fabrics, including “long pile” fabrics and terry fabrics, knitted or crocheted
Sub Chapter
New GST Rate
12
%
Standard
Old GST Rate
12
%
Description
Knitted or crocheted fabrics of a width not exceeding 30 cm, containing by weight 5% or more of elastomeric yarn or rubber thread, other than those of heading 6001
Sub Chapter
New GST Rate
12
%
Standard
Old GST Rate
12
%
Description
Knitted or crocheted fabrics of a width not exceeding 30 cm, other than those of heading 6001 or 6002
Sub Chapter
New GST Rate
5
%
Essential
Old GST Rate
5
%
Description
Knitted or crocheted fabrics of a width exceeding 30 cm, containing by weight 5% or more of elastomeric yarn or rubber thread, other than those of heading 6001
Sub Chapter
New GST Rate
5
%
Essential
Old GST Rate
5
%
Description
Warp knit fabrics (including those made on galloon knitting machines), other than those of headings 6001 to 6004
Sub Chapter
New GST Rate
5
%
Essential
Old GST Rate
5
%
Description
Other knitted or crocheted fabrics
India’s Trade Performance — HSN Chapter 60 in FY 2024-25
TradeStat EIDB — Ministry of Commerce & Industry
FY 2018-19–FY 2024-25
Values in ₹ Crore
India’s Exports
FY 2024-25₹4,999 Cr
+27.87%
vs FY 2023-24
0.1350% of India’s total exports
India’s Imports
FY 2024-25₹7,566 Cr
+25.52%
vs FY 2023-24
0.1241% of India’s total imports
Trade Balance
FY 2024-25−₹2,567 Cr
Trade Deficit
Surplus rank #60 of 97 chapters
At a glance
8.40%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#64
National Export Rank
of 97 chapters by export value, FY 2024-25
+77.60%
Peak Growth Year
FY 2021-22 · strongest single-year move
1.6×
Export Growth · 7Y
₹3,080.25 Cr → ₹4,998.91 Cr
India Export-Import Trade Statistics for HSN Chapter 60
7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
FY 2018-19
Exp. Rank #62
Balance
−877.73
Exports
3,080.25 ₹ Cr
0.1335% share
— YoY
Imports
3,957.98 ₹ Cr
0.1101% share
— YoY
FY 2019-20
Exp. Rank #61
Balance
−897.02
Exports
2,992.31 ₹ Cr
0.1349% share
−2.86% YoY
Imports
3,889.33 ₹ Cr
0.1157% share
−1.73% YoY
FY 2020-21
Exp. Rank #60
Balance
−10.71
Exports
3,569.65 ₹ Cr
0.1654% share
+19.29% YoY
Imports
3,580.36 ₹ Cr
0.1228% share
−7.94% YoY
FY 2021-22
Exp. Rank #54
Balance
+1,317.52
Exports
6,339.75 ₹ Cr
0.2015% share
+77.60% YoY
Imports
5,022.23 ₹ Cr
0.1098% share
+40.27% YoY
FY 2022-23
Exp. Rank #61
Balance
−1,462.35
Exports
4,611.62 ₹ Cr
0.1274% share
−27.26% YoY
Imports
6,073.97 ₹ Cr
0.1056% share
+20.94% YoY
FY 2023-24
Exp. Rank #67
Balance
−2,118.11
Exports
3,909.25 ₹ Cr
0.1080% share
−15.23% YoY
Imports
6,027.36 ₹ Cr
0.1073% share
−0.77% YoY
FY 2024-25
Exp. Rank #64
Balance
−2,566.59
Exports
4,998.91 ₹ Cr
0.1350% share
+27.87% YoY
Imports
7,565.50 ₹ Cr
0.1241% share
+25.52% YoY
CAGR · 7-Year
Exports
8.40% /yr
Imports
11.40% /yr
Consistently Deficit
Peak export growth year
Latest available data
Not available
YoY = change vs previous FY
Key Trade Insights: HSN Chapter 60 Export-Import Analysis
HSN Chapter 60 Ranked #64 Among All 97 Chapters by Export Value
In FY 2024-25, HSN Chapter 60 ranks #64 out of 97 chapters by total export value. By trade surplus, it ranks #60 of 97.
FY 2021-22 Was the Strongest Growth Year for HSN Chapter 60 Exports
The strongest single-year export movement for HSN Chapter 60 was recorded in FY 2021-22, when exports surged by 77.60% over the prior year.
India Records a Trade Deficit of ₹2,566.59 Crore in HSN Chapter 60 Goods
In FY 2024-25, India's imports of ₹7,565.50 Cr exceeded exports of ₹4,998.91 Cr, resulting in a trade deficit of ₹2,566.59 Crore — ranking #60 of 97 by surplus magnitude.
Import Growth of 11.40% CAGR Signals Rising Demand for Knitted/Crocheted Fabrics
India's imports under HSN Chapter 60 have grown at 11.40% CAGR, reaching ₹7,565.50 Crore in FY 2024-25.
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Important Disclaimer
The above does not constitute professional advice or a formal recommendation. We recommend consulting a professional tax consultant before acting on the information contained in this piece of content.