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TEA aims to export knitwear worth Rs 36,000 cr by FY17
04
Sep '15
The Tirupur Exporters Association (TEA) expects knitwear exports from the region to reach the target of Rs 36,000 crore by 2016-17.

Addressing the 25th Annual General Meeting of TEA , its president Dr A Sakthivel said outbound shipments of knitwear from the region have already grown to Rs 20,730 crore in 2014-15 with favourable input factors boosting growth by 15 per cent growth over 2013-14.

Currently, Tirupur's market share in India's knitwear exports is 44.29 per cent and this would go up once the industry starts exporting synthetic-based garments, which have a market throughout the year globally, he said.

Backed by favourable cotton yarn prices, knitwear exports from Tirupur increased to Rs 20,730 crore from Rs 18,000 crore in 2013-14, a growth of 15.52 per cent in Rupee terms and 15.94 per cent in terms of foreign currency, he pointed out.

The total ready-made garment exports from India had for the first time crossed the Rs 1 Lakh crore-mark in 2014-15 to touch Rs 1.03 lakh crore, ($16.82 billion). Of this, knitwear exports was Rs 46,801 crore, with a share of 45.43 per cent, Shaktivel said.

As there was volatility in the euro in the first quarter of 2015-16, the share of dollar quoted by exporters increased to 58.51 per cent against 55.41 recorded in 2014-15, he said. (SH)

Fibre2Fashion News Desk – India

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