The textile industry is on growth track, as the year 2013-14 as turned up to be encouraging with no shortage of cotton yarn at any point of time during 2013-14 was seen in the domestic market, according to T Rajkumar, Chairman, Southern India Mills Association (SIMA).

The cotton consumption by the mills in both non-SSI and SSI sectors stood at 286.46 lakh bales registering an increase of 8.86 per cent over previous year's 263.15 lakh bales. Though cotton consumption has increased, the average month-end stock held by mills was lower at 39.65 lakh bales than the previous year's 41.23 lakh bales, a reduction of 3.83 percent as SIMA.

All yarn production during the year stood at 5,295 million kgs to the early year’s 4,868 kgs higher by 8.79 percent than previous year. Cotton, blended and non-cotton yarn stood at 3,923, 893 and 480 million kgs, all higher in comparison to the previous production of 3,583, 828 and 457 million kgs respectively.

The higher production resulted in increased deliveries of all types of yarns. Deliveries (computed based on production and month end stock) of all yarn rose by 7.94 per cent and that of cotton, blended and non-cotton was up by 8.78, 6.12 and 4.68 percent respectively over the early year deliveries.

Registration of cotton yarn exports during the year also showed a significant growth to 1,415 million kgs, 32.6 percent higher than previous year's 1,067 million kgs. While, the average month-end stock of all yarn stood at 194 million kgs, 14.84 percent higher than previous year's 169 million kgs.

Despite the fact that there has been an increase in the registrations of cotton yarn exports, the average month-end stock stood at 126 million kgs, 12.5 per cent higher during the year compared to 112 million kgs in the previous year.