September 3, 2015
A. Shaktivel, president of Tirupur Exporters Association (TEA) has said that knitwear exports from the city had reached Rs.20,730 crores in 2014-15 and is fast approaching the target of Rs.3,6000 crores in 2016-17.
Speaking at the 25th Annual General Meeting of the association, held at Tirupur last night, he said that the determining input factors, like the prices of cotton yarn, were favourable and helped attain nearly 16 percent growth in 2014-15 (Rs. 20,730 crores), compared to the previous fiscal year 2013–14 (Rs.18,000 Crore).
Tirupur amounts to 44.3 per cent of the total knitwear exports from India. Shaktivel says that it will increase considerably once the industry starts exporting synthetic garments, which have perennial market throughout the globe.
Readymade garment exports from India have, for the first time, crossed the Rs.1 lakh crore mark in 2014–15, and recorded business of Rs.1.03 lakh crores (US $ 16.82 billion), of which knitwear exports amounted to Rs.46,801 crore, at 45.43 percent.
Shaktivel added that the association is waiting for the state and the central governments to announce the National Textile Policy and Tamil Nadu Textile policy.