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Tiruppur garment cluster hopeful of meeting export target
24
Mar '17
The Tiruppur garment cluster is hopeful of meeting its target of exporting apparel worth Rs 25,000 crore in fiscal 2017 after having exported clothing amounting to Rs 23,253 crore in the first 11 months of the fiscal beginning April 1. The cluster reported exports of only Rs 16,600 crore between April 1 and December 31, causing anxiety of reaching the target.

"Now with sudden surge in exports, we are hopeful of meeting the target of Rs. 25,000 crore comfortably by March 31," a leading daily quoted the Tiruppur Exporters' Association president Raja Shanmugam as saying.

"If not for the market slowdown, which happened subsequent to UK's decision to exit European Union and few other factors, the cluster could have reached an annual turnover of Rs. 28,000 crore," he added.

According to the daily, India exported both woven and knitted garments totalling to Rs 104,443 crore in the 11 months to February 28, 2017, a growth of 3.5 per cent in rupee terms and 0.58 per cent in dollar terms, as against the same period of earlier fiscal. (AR)

Fibre2Fashion News Desk – India


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