Textile Industry Cheers on Positive Exports and IIP – CITI

Monday, September 17, 2018, New Delhi: Ministry of Commerce & Industry, DGCI&S, issued the Quick Estimates of EXIM data for the month August 2018. Shri Sanjay K Jain, Chairman, CITI stated that the exports of textile and apparel stood at Rs.21,895.00 crore during August 2018 as compared to Rs.18,533.00 crore during August 2017 showing an increase of 18%. Similarly, the cumulative figures stood at Rs.1,01,727.00 during Apr-Aug 2018 as compared to Rs.95,888.00 crore during Apr-Aug 2017 showing an increase of 6%. Over all, All Commodities Exports (ACE) has witnessed a stupendous growth of 30% in August 2018 while for cumulative, it witnessed a growth of 22%.

CITI Analysis of Exports of T&A for August 2018

                                                                                                                                                                                                                                                            Values in INR Crores

Particulars Aug-17 Aug-18 % Change Apr’17-Aug’17 Apr’18-Aug’18 % Change
Cotton Yarn/Fabs./made-ups, Handloom Products etc. 5,380 7456 39% 25530 32,665 28%
Man-made Yarn/Fabs./made-ups etc. 2,583 3196 24% 12458 14,088 13%
Jute Mfg. including Floor Covering 230 220 -4% 927 929 0.2%
Carpet 843 872 3% 3809 4,021 6%
Handicrafts excl. handmade carpet 945 1164 23% 4,799 5,176 8%
Textiles 9,981 12,909 29% 47,523 56,880 20%
Apparel 8,552 8,987 5% 48,365 44,847 -7%
Textile and Apparel 18,533 21,895 18% 95,888 101,727 6%
All Commodities 149,399 193,625 30% 754,219 923,448 22%
% of T&A in Total Exports 12% 11%   13% 11%  
Source: DGCIS

Chairman observed that the positive trend in exports for the entire textile value chain has been the result of CITI’s continuous persuasion with the Government and pragmatic approach shown by the Hon’ble Union Minister of Finance, Hon’ble Union Minister of Commerce & Industry and Hon’ble Union Minister of Textiles, on the issues of T&C Industry especially post GST implementation. Chairman stated that he would sincerely like to thank all the three Hon’ble Ministers for their timely policy support and intervention to boost the industry which was reeling under severe stress especially after the implementation of GST.

Chairman further pointed out that the quick estimate figures of imports for Textile Yarn Fabric & Made-ups stood at Rs.1,196.00 crore during August 2018 as compared to Rs.907.00 crore during August 2017 showing an increase of 32%. While the cumulative figures of imports stood at Rs.5,347.00 crore during Apr-Aug 2018 as compared to Rs.4,799.00 crore during Apr-Aug 2017 registering an increase of 11%.

CITI Analysis of Imports of Textiles for August 2018

Values in INR Crores

Particulars Aug-17 Aug-18 % Change Apr’17-Aug’17 Apr’18-Aug’18 % Change
Textile yarn fabric, made-ups 907 1,196 32% 4,799 5,347 11%
Source: DGCIS