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Ministry reveals result of growth & investment in textiles

24
Jan '07
In a review conducted by Ministry of Textiles' economic division on growth and investment in textile, all India Index of Industrial Production (IIP) registered an increase of 10.1 percent during the first quarter of 2006-07 (April-June) as against the corresponding period of last year, the index of production for the textiles group of industries showed a surge.

There was a significant increase in respect of Textiles products (9.5 percent) and Wool, Silk & Manmade fibre textiles (7.3 percent). The Cotton textiles also showed an increase of 2.4 percent. However, Jute & other vegetable fibre textiles declined by 0.9 percent.

The Hosiery sector recorded the highest growth (9.6 percent) followed by Powerloom (7.5 percent).

During this period, spun yarn production and cloth production also increased by 1.5 percent and 7 percent, respectively.

While the All India Wholesale Price Index rose by 4.6 percent, the textile group registered marginal increase of 0.1 percent. Exports started picking up momentum and increased by 20.54 percent.

Significant increase was recorded in RMG (20.65 percent), Cotton Textiles (31.08 percent), Man-made Textiles (17.99 percent) and Wool & woollens (16.75 percent). However, exports of Jute Goods (-3.84 percent) is yet to make an upward trend.

There was a surge in imports (13.36 percent), accounted by RMG (36.29 percent), Made-ups (40.11 percent) and Semi-raw material (21.45 percent).

Under TUFS, during 2006-07 the overall increase was recorded in terms of total number of applications sanctioned (243.23 percent), the amounts sanctioned (103.42 percent) and disbursed (117.68 percent).

The performance in respect of the powerloom sector has also increased in terms of total amount sanctioned (558.02 percent) and disbursed (1121.05 percent).

The share of textile sector in FDI was 0.06percent (in terms of amount) during this period as against 0.26 percent in the corresponding period last year.

The share in the number of Letters of Intent (LOI)/Direct Industrial Licenses (DIL) was 50 percent and the share in investment was 94.7 percent.

Ministry of Textiles


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