Quick Estimates of IIP Show Major Jumps for Textile & Clothing Sector: CITI
New Delhi, Saturday, October 13, 2018: The Quick Estimates of Index of Industrial Production (IIP) and Use-Based Index for the Month August 2018 has been released today by Ministry of Statistics Planning & Implementation. Mr. Sanjay Jain, Chairman, CITI stated that the quick estimates of IIP for August 2018 shows an encouraging trend for the Textile and Clothing Sector.
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%. 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%.
Similarly, the monthly Index for Wearing Apparel has increased from 121.4 during August 2017 to 144.3 during August 2018 showing a robust increase of 18.9%. for 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%.
Mr. Jain stated that 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 percent.
|Quick Estimates – Index of Industrial Production – Textiles & Clothing|
|Aug’17||Aug’18||% Change||April – Aug’17||Apr -Aug’18||% Change|
|Manufacture of textiles||3.2913||116.0||125.1||7.8%||116.3||119.7||2.9%|
|Manufacture of wearing apparel||1.3225||121.4||144.3||18.9%||142.6||144.2||1.1%
Source: Ministry of Statistics Planning & Implementation
Mr. Jain stated that it’s a very positive development and bring cheers for the overall textile industry. He further stated that for this positive change, he would once again like to thank the pragmatic approach of our Hon’ble Prime Minister, Hon’ble Union Finance Minister, Hon’ble Union Textile Minister and Hon’ble Union Commerce & Industry Minister.
Mr. Jain reiterated that he had earlier clearly pointed out in his statements to the media that this turnout is just a beginning of a new dawn especially after industry faced back to back two big economic reforms “Demonitisation” and “Implementation of GST”. He further pointed out that industry hopes that the trend will continue and motivate the industry attracting fresh investments. He also stated that it will also encourage industry to promote Make In India initiative of our Hon’ble Prime Minister.
He further stated that he once again thank all the Ministers especially Hon’ble Union Textile Minister for all the kind support that industry has asked for during this difficult phase more particularly the last one year.