Indian Garment Production Falls 22.6% Between April & Aug
Indian garment industry production declined sharply by 22.6 percent year on year between April and August this year
Data from the Confederation of Indian Textile Industry (CITI) on the Index of Industrial Production for Textiles and Apparels informs that the garment index fell 22.6 percent in the first five months of fiscal 2024
“However, the garment index fell slower by 17.1 percent in August 2023, while textile index rose marginally by 1.6 percent, when compared with the same month of previous year” the CITI data said.
Experts attribute the fall in manufacturing in the garments industry to slowdown in both domestic and export market demand and fear that there might be job losses if this situation continues into next year.
