Home / Knowledge / News / Apparel/Garments / TEA President's speech at its 22nd Annual General Meeting

TEA President's speech at its 22nd Annual General Meeting

11
Sep '12
Tirupur Exporters Association (TEA) held its 22nd Annual General Meeting (AGM) on September 10, 2012. Speaking on the occasion, Dr Sakhtivel - President of TEA discussed the activities and action taken by TEA to address various issues.

Excerpts from his speech –

Our export sector is totally besieged with various adverse factors and even the Economic Advisory council to the Prime minister in its Economic Outlook Report take cognizance of the industry specific problems of textile industry and noted that the dismal performance of textile industry was one of the three components within the manufacturing sector for the down fall of the GDP.  The impact is unprecedented and by and large all units irrespective of their capacity have got affected and severity is more pronounced in SME sector.  

We have been undergoing a severe financial crisis for the last three years due to problems emerged in USA, Volatility in foreign currencies, increase in yarn prices, increasing of Bank interest rates and transportation cost, increase in wages, closure of processing units in Tirupur area and the prime adverse factors are Recession in European Union coupled with slow recovery of US Economy. 

The power cost has also got increased due to usage of captive power which is almost three times of the regular TNEB grid power cost.  The effect of continuous chain reactions have crippled the Tirupur units, especially units in the SME sector and are totally running out of solutions to come out of the crisis and  the Association is continuously taking full efforts to mitigate the problems arisen due to various internal as well as external factors. 

Click here to read more details:

Tirupur Exporters Association (TEA)


Must ReadView All

Pic: Shutterstock

Retail | On 9th Jul 2020

UK unveils 2nd part of 3-phase plan for economic recovery

Chancellor of the exchequer Rishi Sunak recently announced a slew of...

Pic: Brooks Brothers

Apparel/Garments | On 9th Jul 2020

Brooks Brothers files Chapter 11 bankruptcy proceedings

Brooks Brothers, America's oldest apparel company, recently announced ...

Pic: Shutterstock

Textiles | On 9th Jul 2020

Deeper recession forecast for EU economy

The European Union economy will see a deep recession this year...

Interviews View All

Jurgen Gauger, Spreadshirt

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Rashi Menda, Zapyle

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Textile industry, Head honchos

Textile industry
Head honchos

GenNext is slowly but surely adapting to global trends and practices

Pratik Agarwal,

Pratik Agarwal

Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...

DP Kumar,

DP Kumar

Weaves is South India's premier textile fair organised by Texvalley in...

Sugandha Bhardwaj,

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search