The apparel and textile sector has shown an encouraging trend in the quick estimates of Index of Industrial Production (IIP) for August 2018, in a statement released by the Ministry of Statistics Planning & Implementation, Government of India.
The monthly Index for apparel has increased from 121.4 during August 2017 to 144.3 during August 2018 showing a robust increase of 18.9 per cent. However, the cumulative index has increased from 142.6 during Apr-Aug’2017 to 144.2 during Apr-Aug’2018 showing a marginal increase of 1.1 per cent.
The monthly Index for textiles has increased from 116.0 during August 2017 to 125.1 during August 2018 showing an increase of 7.8 per cent. However, the cumulative Index has increased from 116.3 during Apr-Aug’2017 to 119.7 during Apr-Aug’2018 showing an increase of 2.9 per cent.
The General Index for the month of August 2018 is 4.3 percent higher as compared to the level in the month of August 2017. The cumulative growth for the period April- Aug 2018 over the corresponding period of the previous year stands at 5.2 per cent.
Happy with the figures, the industry has reacted enthusiastically on this positive indication. Sanjay Jain, Chairman, CITI called it a positive development that brought cheers for the overall textile industry. “Industry hopes that the trend will continue and motivate the industry attracting fresh investments. It will also encourage industry to promote Make In India initiative,” he added.
Source: https://in.apparelresources.com