16% Increase in Knitwear Exports in first 6 months

Trade PolicyKnitwear garment exports from Tirupur have touched Rs 10,050 crore in the first six months of this fiscal, registering a 16 per cent increase over the figure of Rs 8,650 crore in the corresponding period last year.

“In Dollar terms, the growth is 13.35 per cent and is likely to touch Rs 21,000 crore during the course of the year,” president of Tirupur Exporters’ Association (TEA), Mr. A. Sakthivel said.

Export growth rate from Tirupur is also in the same league of all India garment exports growth rate, he said appreciating the “unstinted efforts” of Tirupur exporters in achieving the target.

The announcement on continuance of the existing schemes in new Foreign Trade Policy (expected by this month-end) and continuance of three per cent Interest Subvention scheme on packing credit with retrospective effect from April 1, will contribute to sustaining growth, he said.

However, the proposal of Tamil Nadu Electricity Regulatory Commission (TNERC) to increase power tariff to HT (high-tension) and LT (Low-tension) consumers by 30 per cent will have an adverse impact on exports, Mr. Sakthivel added.

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