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Positive signs indicate revival in textile sector
05
Oct '09
The textile industry is slowly showing signs of revival and coming out from the depressing stage it is going through in the last 12 months. Data culled from the Ministry of Textiles indicates that, fabric production has improved by 2.2 percent in the period April-July 2009.

Yarn production though, which fell in the first three months of the new fiscal showed positive signs of growth in the month of July, when corresponded with the same period of the previous year. Inventories of exporters also seem to be climbing down.

But, to witness a real rebound in textile and clothing exports from the country, the main markets of the US and EU need to report a rebound in their economies, which constitute a major chunk of textile and apparel exports from the country.

Consumer demand in the US is already showing gradual signs of revival, with sales of clothing in the US increasing by 2.4 per cent in August 2009, compared to the previous month, however, was down by 5.1 percent when compared with August 2008.

During 2008-09, there was a 1.91 per cent overall decline in fabric production and a decline of 2.22 per cent in spun yarn, according to Textile Ministry estimates. This is in contrast to a very positive run during the period 2005-06 to 2006-07 and a reasonably good 2007-08.

Yarn and fabric production increased by about 8-9 percent on an annual basis during the first couple of years and again by a moderate 5 per cent during 2007-08.

Fibre2fashion News Desk - India

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