Textile MSMEs in north & south India outperform those in east & west
Updated: Aug 19, 2014 11:10:49am
New Delhi, Aug 19 (KNN) The average sales of 774 MSMEs in the textile sector grew at a compound annual growth rate (CAGR) of 19 per cent, from Rs 1,271.89 lakh to Rs 1,809.81 lakh over a three-year analysis period, says a study.
CRISIL conducted a study on the growth performance of 774 micro, small, and medium enterprises (MSMEs) rated by it in the textile sector. Their performance was analysed for the three-year period 2010-11 to 2012-13 (refers to the financial year, April 1 to March 31), according to a media report.
MSMEs in northern and southern India performed better than the enterprises in eastern and western India in sales growth, with a CAGR of 21 per cent.
According to the study, the key contributors to north India's growth story were MSMEs from Haryana, Punjab, and Uttar Pradesh, all with a CAGR of 23 per cent.
Meanwhile the enterprises from the states of Karnataka, Andhra Pradesh and Tamil Nadu contributed to growth in in South India with a CAGR of 23 per cent, 22 per cent, and 19 per cent respectively.
The Rs 200-crore Budget proposal to set up six new mega-clusters across the country is expected to significantly benefit the textile industries of both North and South India, which are expecting four of these mega-clusters, planned at Bareilly, Lucknow, Mysore, and Tamil Nadu, reports media.
However, MSMEs across India are set to benefit from the continuation of zero-excise duty on readymade garments and the increase in the budget allocation to the Technology Upgradation Fund Scheme (TUFS) to Rs 2,300 crore in 2014-15, from Rs 1,950 crore in 2013-14, it added. (KNN/SD)
CRISIL conducted a study on the growth performance of 774 micro, small, and medium enterprises (MSMEs) rated by it in the textile sector. Their performance was analysed for the three-year period 2010-11 to 2012-13 (refers to the financial year, April 1 to March 31), according to a media report.
MSMEs in northern and southern India performed better than the enterprises in eastern and western India in sales growth, with a CAGR of 21 per cent.
According to the study, the key contributors to north India's growth story were MSMEs from Haryana, Punjab, and Uttar Pradesh, all with a CAGR of 23 per cent.
Meanwhile the enterprises from the states of Karnataka, Andhra Pradesh and Tamil Nadu contributed to growth in in South India with a CAGR of 23 per cent, 22 per cent, and 19 per cent respectively.
The Rs 200-crore Budget proposal to set up six new mega-clusters across the country is expected to significantly benefit the textile industries of both North and South India, which are expecting four of these mega-clusters, planned at Bareilly, Lucknow, Mysore, and Tamil Nadu, reports media.
However, MSMEs across India are set to benefit from the continuation of zero-excise duty on readymade garments and the increase in the budget allocation to the Technology Upgradation Fund Scheme (TUFS) to Rs 2,300 crore in 2014-15, from Rs 1,950 crore in 2013-14, it added. (KNN/SD)
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