• Download mobile app
21 May 2018, Edition - 1042, Monday

FLASH NEWS:

  • BS Yeddyurappa Resigns As Karnataka Chief Minister Just Before Floor Test
  • 1 BJP MLA Somashekara Reddy is out to ‘bribe’ MLAs
  • Number game changes again, after 2 Cong, 2 JDS(S) MLAs rebel, 2 independents back BJP, BJP at 105, 4 short of win
  • Legal faceoff after poll war, Cong-JDS object to pro tem speaker, top court puts Cong-JDS in spot, SC: Might have to postpone floor test
  • SC accepts Governor’s Counsel’s argument, top court puts Cong-JDS in tight spot, Cong-JDS’s petition dismissed
  • BJP MLA to remain pro tem speaker, SC: Videography of floor test adequate, floor test to telecast live

Coimbatore

Readymade garment industry in dire straits, exports drop 40% by Oct

Covai Post Network

Image credit : Illustrative Image

Export of readymade garments has dropped by 40 per cent till October this year, valued at Rs 5,398 crore as against Rs 9,111 crore during the same period last year, leaving the industry in dire straits.

With the export value for October being the lowest in the last 42 months, the garment sector has reached the endurance limit, according to sources in Tirupur Exporters’ Association (TEA).

Exports from Tirupur, which crossed Rs 2,000 crore in October 2016, dropped by almost 42 per cent to Rs 1,200 crore this October, the sources said.

Any delay in announcement of some sops or other positive measures, including enhancement of duty drawback and rebate on state levies on exports would lead to a coma and it would be difficult to bring it back to normality, TEA said.