The exports of textile and apparel grew 18% in August 2018 to stood at Rs 21,895 crore as compared to Rs 18,533 crore in August 2017. Similarly, the cumulative figures (April-August 2018) grew 6% at Rs 1,01,727 crore as compared to Rs 95,888 crore during April-August 2017.
Overall, all commodities exports (ACE) witnessed a stupendous growth of 30% in August 2018 while for cumulative, it witnessed a growth of 22%, said the Confederation of Indian Textile Industry (CITI).
Quoting union ministry of commerce & industry, DGCI&S’ quick estimates for August 2018, Sanjay K Jain, chairman, CITI, said that the export of textile yarn fabric, made-ups for August 2018 grew 32% to R1,196 crore as compared to R907 crore and for the five month period of the current fiscal, the growth was 11% to Rs 5,347 crore as compared to Rs 4,799 crore in the April-August 2017 period.
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 union finance minister, union commerce & industry minister and union textiles minister on the issues of T&C industry especially post GST implementation. The timely policy support and intervention to boost the industry which was reeling under severe stress especially after the implementation of GST should be highly appreciated, he added.
According to him, the exports of cotton yarn fabrics, made-ups, handloom products in August 2018 grew 39% to Rs 7,456 crore as compared to Rs 5,380 crore in August 2017. Similarly, the exports of man-made yarn fabrics, made-ups grew 24% to Rs 3,196 crore in August 2018.
