The Tirupur garment cluster is hopeful of meeting its target of exporting apparel worth Rs. 25,000 cr in fiscal 2017 after having exported clothing amounting to Rs. 23,253 cr in the first 11 months of the fiscal beginning April 1. The cluster reported exports of only Rs. 16,600 cr 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 cr comfortably by March 31,” Tirupur 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 cr,” he added. According to a report, India exported both woven and knitted garments totaling to Rs. 104,443 cr 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.