The exports of textile and apparel grew 18 per cent in August 2018 to stand at 21,895 cr as compared to 18,533 cr in August 2017. Similarly, the cumulative figures during April-August 2018 grew by 6 per cent at 1,01,727 cr as compared to 95,888 cr during April-August 2017.
Overall, all commodities exports (ACE) witnessed a stupendous growth of 30 per cent in August 2018 while for cumulative, it witnessed a growth of 22 per cent, said the Confederation of Indian Textile Industry (CITI). Quoting the 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 by 32 per cent to Rs. 1,196 cr as compared to Rs. 907 cr and for the five month period of the current fiscal, the growth was 11 per cent, 5,347 cr as compared to Rs. 4,799 cr 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 by 39 per cent, to 7,456 cr as compared to 5,380 cr in August 2017. Similarly, the exports of man-made yarn fabrics, made-ups grew 24 per cent to 3,196 cr in August 2018.