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Tiruppur knitwear exports to cross ₹30k cr in 2019-20: TEA

17
Apr '19
Pic: Daria Shevtsova from Pexels
Pic: Daria Shevtsova from Pexels
Knitwear exports from Tiruppur in Tamil Nadu are poised to surpass the ₹30,000-crore mark in the current financial year 2019-20, the Tiruppur Exporters’ Association (TEA) has said. In 2018-19, exports from the knitwear hub are estimated to have grown by 8.3 per cent to ₹26,000 crore from ₹24,000 crore in the previous fiscal, according to the association.

“Though the annual average export growth of 7 per cent was recorded in last year, while analysing the knitwear export trend, in the last six months, the average export growth was significant at about 31.15 per cent over the corresponding period in 2017-18,” TEA president Raja M Shanmugham said in a press release.

After struggling for two years, Tiruppur exports have resumed back to the growth trajectory, Shanmugham said. Appreciating Tiruppur exporters’ usual perseverance against all odds, he said that he is confident that with the continuance of positive growth trend coupled with the recent increase in RoSCTL rate and the expected formation of stable government, Tiruppur exports are poised to cross the ₹30,000-crore mark in 2019-20.

In 2018-19, India’s readymade garment exports stood at ₹1,12,715 crore against ₹1,07,679 crore in 2017-18, registering a 4.7 per cent growth, according to data from the ministry of commerce and industry. (RKS)

Fibre2Fashion News Desk – India


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