Tirupur: Achieving the usual monthly exports of Rs 2,500 crores in September and October, Tirupur Export Industry has nearly come out of the crisis it was reeling under due to Covid- 19 outbreak.
Tirupur:Achieving the usual monthly exports of Rs 2,500 crores in September and October, Tirupur Export Industry has nearly come out of the crisis it was reeling under due to Covid- 19 outbreak.
Textile industry stands second in generating more employment throughout the nation next to agriculture. Total textile exports account to 38 billion US dollars. Textile industry shares 4.3% in the GDP. A total of 110 million people are employed directly and indirectly. India's share is 5.2% in the arena of global garment exports. Since the Government identified the textile industry as a trust area for economic growth of the nation, many schemes have been announced.
In Tamil Nadu, Tirupur plays a vital role in contributing major share to the textile exports at a national level. 'Covid-19' outbreak made a big impact in this sector, but for the past two months the entire export industry sector at Tirupur has started to come out from the crisis, achieving the usual monthly exports of Rs 2,500 crores.
Tirupur Exporters Association (TEA) President, Raja M Shanmugam said, "Usually, each month Rs 2,500 crores' worth of exports will be witnessed. After a slump due to he COVID outbreak, Tirupur export industry has shown very good improvement in September and October. This is a very good sign, but talks doing rounds about a second wave of COVID has made some impact at the beginning of this month (November).
Some foreign countries such as England, France, and Germany, etc. have taken the initiative to implement a total lockdown again. Due to these reasons the export market is looking dull at present, but we hope things will turn back to normal soon, which would help the Tirupur export market witness a steady growth."
Textile industry stands second in generating more employment throughout the nation next to agriculture. Total textile exports account to 38 billion US dollars. Textile industry shares 4.3% in the GDP. A total of 110 million people are employed directly and indirectly. India's share is 5.2% in the arena of global garment exports. Since the Government identified the textile industry as a trust area for economic growth of the nation, many schemes have been announced.
In Tamil Nadu, Tirupur plays a vital role in contributing major share to the textile exports at a national level. 'Covid-19' outbreak made a big impact in this sector, but for the past two months the entire export industry sector at Tirupur has started to come out from the crisis, achieving the usual monthly exports of Rs 2,500 crores.
Tirupur Exporters Association (TEA) President, Raja M Shanmugam said, "Usually, each month Rs 2,500 crores' worth of exports will be witnessed. After a slump due to he COVID outbreak, Tirupur export industry has shown very good improvement in September and October. This is a very good sign, but talks doing rounds about a second wave of COVID has made some impact at the beginning of this month (November).
Some foreign countries such as England, France, and Germany, etc. have taken the initiative to implement a total lockdown again. Due to these reasons the export market is looking dull at present, but we hope things will turn back to normal soon, which would help the Tirupur export market witness a steady growth."