Reacting to the Quick Estimates of Index of Industrial Production (IIP) and Use-Based Index for the Month August, 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%.
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.