EXIM data shows pos­i­tive signs for In­dian tex­tile and ap­parel in­dus­try: CITI

Apparel Online - - Tex-file -

Min­istry of Com­merce & In­dus­try, DGCI&S, has re­vealed the Quick Es­ti­mates of EXIM (ex­port-im­port) data for the month Au­gust 2018. In a press re­lease is­sued, San­jay K Jain, Chair­man, CITI elab­o­rated on the data that the ex­ports of Tex­tile and Cloth­ing (T&C) sec­tor recorded a hike of 18 per cent fetch­ing

Rs. 21,895 crore dur­ing Au­gust

2018 which was Rs. 18,533 crore in same pe­riod pre­vi­ous year. No­tably, the pro­gres­sive fig­ures wit­nessed a 6 per cent growth and reg­is­tered Rs. 1,01,727 crore dur­ing AprilAu­gust this year as com­pared to

Rs. 95,888 crore recorded last year dur­ing the same time pe­riod. Over all, All Com­modi­ties Ex­ports (ACE) has fetched a sig­nif­i­cant growth of 30 per cent last month, while for cu­mu­la­tive, it wit­nessed a growth of 22 per cent. Ap­pre­ci­at­ing the ef­forts made to meet the is­sues of T&C in­dus­try, the Chair­man cred­ited CITI’s ini­tia­tives in as­so­ci­a­tion with the Cen­tral Gov­ern­ment’s ap­proach for the pos­i­tive trend in ap­parel ex­ports. Fur­ther­more, San­jay marked out that the quick es­ti­mate fig­ures of im­ports for Tex­tile Yarn Fab­ric & Made-ups recorded a surge of 32 per cent at Rs. 1,196 crore dur­ing Au­gust 2018 as com­pared to Rs. 907 crore dur­ing the pre­vi­ous year. The cu­mu­la­tive fig­ures of im­ports wit­nessed a hike of 11 per cent at Rs. 5,347 crore dur­ing AprilAu­gust 2018 which was recorded at Rs. 4,799 crore in the prior year. Ad­di­tion­ally, the Chair­man put forth the im­pact the Gov­ern­ment made by in­creas­ing the im­port duty on most of the tex­tile items which were wit­ness­ing a sig­nif­i­cant surge in im­port vol­umes. He ob­served that the real ef­fect of the pro­tec­tion given by in­creas­ing the im­port duty and ru­pee de­pre­ci­a­tion is yet to come and it will ease out the stress which is there at present on the in­dus­try. How­ever, the Chair­man stated that he is happy to see the pos­i­tive IIP data. It is per­ti­nent to men­tion here that the

IIP pro­duc­tion data for T&C also reg­is­tered a ro­bust Y-o-Y in­crease dur­ing July 2018 as com­pared to that in the same pe­riod the last year.

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