Tirupur: The TEA President, Raja M Shanmugham stated that the export of Tirupur knitwear will surpass Rs.30,000 crores in 2019-20.
Tirupur: The TEA President, Raja M Shanmugham stated that the export of Tirupur knitwear will surpass Rs.30,000 crores in 2019-20.
The All India Readymade Garment exports recorded Rs.1,12,715 crores in 2018-19 as against Rs.1,07,679 crores achieved in 2017-18, with a positive growth of 4.7 percent as revealed by the Ministry of Commerce and Industry.
In a press release issued today, the President of TEA said that knitwear exports from Tirupur is estimated to be Rs.26,000 crores in 2018-19 against Rs.24,000 crores in 2017-18, with a growth of 8.3 percent. He pointed out that though the annual average export growth of 7 percent was recorded last year, while analyzing the knitwear export trend, in the last six months, the average export growth was significant, which is about 31.15 percent over the corresponding period in 2017-18. He also mentioned that after two years of struggle, Tirupur exports have finally resumed back to the growth trajectory.
Appreciating the Tirupur exporters’ perseverance against all odds, Raja M Shanmugham said he was confident that with the continuance of positive growth trends coupled with the recent increase in RoSCTL rate and formation of a stable Government, Tirupur exports is now poised to surpass Rs. 30,000 crores in the current financial year 2019-20.