Volume of exports from Tirupur has reached Rs.15,000 crore in first nine months of this fiscal year according to data collected from bank after consolidating the bank-wise exports records, president Tirupur Exporters’ Association, Mr. A. Sakthivel said.
He said the export growth compared to corresponding period of previous financial year in Rupee term has been registered at 19 per cent and in Dollar terms 18 per cent.
Mr.Sakthivel hoped that Tirupur exports would cross Rs.21,000crore in 2014 -15 with the same growth trend and could be double in three years from Rs.18,000 crore in 2013-14 to Rs.36,000 crore in 2016-17.
“In Pre-budget Memorandum submitted to the union finance minister, it was requested to address the specific issues like announcement of 3 per cent Interest Subvention on Rupee Export Credit, import of Specialty Fabrics without payment of duty under Export Performance Certificate Scheme in which a maximum of 3 per cent of the license may be allowed for import of fabrics without keeping restriction of 1,000 meter, as synthetic garments have market throughout the year globally.”Mr.Sakthivel also requested the centre to expedite making FTA with EU and Canada.
With the sixth monetary policy being announced by RBI tomorrow (3rd February), there will be a reduction of Repo Rate considering the lowering of oil prices which will help increase the competitiveness, Mr. Sakthivel hoped.