India's apparel index down 21.7 per cent & textiles 12 per cent in Sep

14 Nov '22

2 min read

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India’s growth of Industrial Index of Production (IIP) rebounded in September 2022 to 3.1 per cent which could have been higher had the textile sector performed even at an average rate. Textiles and clothing sector (T&C) performed poorly on IIPs. In September, index declined 12 per cent for textile manufacturing and 21.7 per cent for apparel manufacturing.

Textile sector is facing a slowdown in India and the world at large due to economic adversities. Therefore, India’s domestic and export demand for apparel has declined in the previous months. According to an analysis of Confederation of Indian Textile Industries (CITI), the index for manufacturing of textiles declined to 106.8 (-12 per cent) in September 2022 from 121.4 during the same period of last year. Manufacturing of weaving apparel went down from 158.7 to 124.7 (-21.7 per cent).

Cumulative index for April-September 2022 fell 108.8 (-5.5 per cent) for manufacturing of textiles. The index was noted at 115.1 in April-September 2021. The index of wearing apparel increased from 116.1 to 134.2 in April-September 2022.

IIP for September 2022 rose to 3.1 per cent from August’s contraction of 0.7 per cent. Growth in September 2021 was 4.4 per cent. For the April-September period, IIP grew by 7 per cent compared with a 23.8 per cent rise in the previous year’s same period.

Fibre2Fashion News Desk (KUL)

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