Knitwear Exports From Tirupur Record Rs 20,730 Cr

Knitwear Exports Record Tirupur knitwear exports clocked Rs. 20,730 crore in 2014-15 compared to Rs. 18,000 crores recorded in 2013 – 14, with a growth rate of 15.5% in terms of rupee and 15.9% in terms of foreign currencies. The export figure has been estimated after consolidating the knitwear exports data collected from several banks in Tirupur and surrounding areas.

President of Tirupur Exporters Association (TEA), A. Sakthivel in a release today said it was expected that Tirupur exports would achieve Rs. 21,000 crore and finally registered Rs. 20, 730 crore.

He said after reaching Rs. 18,000 crores in 2013 – 14, a target to double the export, from Rs. 18,000 crore to Rs. 36,000 crores was set and planned to reach this figure in next three years, by 2016-17. Sakthivel was confident of reaching the export target in next two years once the government address the following issues coupled with continuance of favourable factors.

The issues included announcement of availability of 3% Interest Subvention to knitwear garment sector immediately, Inclusion of the countries like Australia, New Zealand, Mexico, Russia, Panama, Latin American countries, specifically Brazil under MEIS reward rate at 2% in Foreign Trade Policy (FTP) as the freight charges particularly to Latin American countries are very high and FTP with European union and Canada takes place in near future.

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