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21 Apr 2019, Edition - 1377, Sunday

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Coimbatore

Tirupur knitwear exports grow by 8.3%

Covai Post Network

Coimbatore : With all India readymade garment exports achieving a positive growth of 4.7 per cent, the knitwear exports from nearby Tirupur is estimated to record an 8.3 per cent growth in 2018-19.

The all-India readymade garment exports recorded Rs.1,12,715 crore in 2018-19 against Rs.1,07,679 Crore achieved in 2017-18, a growth of 4.7 per cent, Tirupur Exporters’ Association President, Raja M Shanmugham said in a release Wednesday,

The knitwear exports from Tirupur is estimated to be Rs.26,000 crore in 2018-19 against Rs.24,000 Crore in 2017-18, higher by 8.3 per cent, he said.

Though the annual average export growth of 7 per cent was recorded last year, while analyzing the knitwear export trend in the last six months, the average export growth was significant: about 31.15 per cent over the corresponding period in 2017-18, he said. .

Expressing happiness that after two years of struggle, Tirupur exports had resumed its growth trajectory, he appreciated Tirupur exporters’ usual perseverance against all odds.

He was confident that with the continuance of positive growth trend coupled with the recent increase in rebate on State and Centre Taxes and Levies (RoSCTL) rate and formation of a stable Government, exports are poised to surpass Rs.30,000 Crore in the current fiscal.

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