Garment exports from Tirupur (India) have increased by 16.3 per cent to Rs. 23,050 crore in 2015-16 as against Rs. 20,730 crore in the previous fiscal year.
Dr. A. Sakthivel, President, Tirupur Exporters Association (TEA) informed that overall garment exports from India surged 8 per cent year-on-year to reach Rs. 1.1 lakh crore in 2015-16. The growth is driven by increase in orders from the European Union which is amongst the leading importers of Indian garments.
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TEA Chief is confident that exports from the knitwear hub of the country will continue to growth in the current fiscal as well, following good demand from the EU. He is also of the view that exports can be doubled if the Free Trade Agreement (FTA) is finalised. “We have seen growth in Europe. We are getting new buyers. Exports can jump to Rs. 50,000 crore if the FTA with EU is in place,” Sakthivel averred.
Sakthivel added that Tirupur can capitalize in the garment export market as China is diverting its focus from the sector. “The share of apparel in China’s textile exports has come down from around 15 per cent to 7 per cent in the last one year. There would be more opportunities,” he opined.
