‘Rs. 36,000-cr Tirupur knitwear export target achievable’

Tirupur knitwear exports clocked Rs. 20,730 crores in 2014-15 compared to Rs. 18,000 crores in the previous year, representing a growth rate of 15.5 per cent in terms of rupee and 15.9 per cent in terms of other currencies. The export figure has been arrived at after consolidating the knitwear exports data collected from 38 banks located in Tirupur and the surrounding areas.

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Dr. A. Sakthivel, TEA President

In a press release, Dr. A. Sakthivel, President of the Tirupur Exporters Association (TEA), has said that exports in 2014-15 were below the expected level of Rs. 21,000 crores. However, he expressed confidence that the targeted export of Rs. 36,000 crores by 2016-17 would be achieved if the Government addressed the following issues, coupled with the continuance of the already favorable factors:

• FTA with the European Union and Canada taking place in the near future

• Announcement of availability of three per cent interest subvention for the knitwear garment sector

• Inclusion of countries like Australia, New Zealand, Mexico, Russia, Panama and Latin American countries, specifically Brazil, under the MEIS reward rate at two per cent in FTP, as the freight charges, particularly to Latin American countries, are very high.