Knitwear exports from Tirupur in Tamil Nadu are poised to surpass the Rs. 30,000- cr mark in the current financial year 2019-20, the Tirupur Exporters’ Association (TEA) has said. In 2018-19, exports from the knitwear hub are estimated to have grown by 8.3 per cent to Rs. 26,000 cr from Rs. 24,000 cr 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.
After struggling for two years, Tirupur exports have resumed back to the growth trajectory, Shanmugham said. Appreciating Tirupur 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, Tirupur exports are poised to cross the Rs. 30,000- cr mark in 2019-20. In 2018-19, India’s readymade garment exports stood at Rs. 1,12,715 cr against Rs. 1,07,679 cr in 2017-18, registering a 4.7 per cent growth, according to data from the Ministry of Commerce and Industry.
