Tirupur exports reach Rs 15000 cr in April-Dec '14

03 Feb '15

2 min read

Exports from Tirupur, known for knitwear manufacturing, has reached Rs 15,000 crore in the first nine months of the ongoing fiscal year 2014-15, A Sakthivel, president of Tirupur Exporters’ Association (TEA) said in a statement.

The export figure was arrived at after consolidating the bank-wise exports data collected from the banks.

In rupee terms, the export growth in April-December, 2014 compared to the corresponding period of the previous fiscal year was 19 percent, while the same worked out to 18 per cent in US dollar terms, Sakthivel said.

If the same growth trend continues, Tirupur exports would cross Rs 21,000 crore-mark in 2014-15, and could double the export value in three years from the current Rs 18,000 crore to Rs 36,000 crore in 2016-17, the statement said.

Earlier, in its pre-Budget memorandum submitted to finance minister Arun Jaitley, TEA requested the minister to address specific issues like announcement of 3 per cent interest subvention on rupee export credit, import of specialty fabrics without payment of duty under Export Performance Certificate Scheme in which a maximum of 3 per cent of the licence may be allowed for import of fabrics without keeping restriction of 1,000 metre, as synthetic garments have market throughout the year globally.

TEA also urged the government to expedite free trade agreements (FTAs) with the EU and Canada. (RKS)

Fibre2fashion News Desk - India

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