Tirupur exporters hoping to close the fiscal with export turnover of Rs21000cr

Tirupur knitwear exports in the first six month of the ongoing fiscal year 2014-14 has registered revenue of Rs. 10,050 crores, a growth of 16 percent as against Rs. 8,650 crores in the corresponding period of last year. In Dollar terms, the growth is 13.35 per cent year-on-year during April-September 2014, said Tirupur Exporters Association (TEA) president A Sakthivel.

Exporters from this tiny town, the hub for knitwear exports are hoping to close the fiscal with an export turnover of Rs 21,000 crore.

The unstinted efforts of Tirupur exporter have achieved Tirupur export growth rate in the same league of all India garment exports growth rate.

Mr. Sakthivel further said that the apparel industry is eagerly awaiting 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, which will contribute to sustaining growth.

On the other hand, the proposal of Tamil Nadu Electricity Regulatory Commission (TNERC) to increase power tariff to HT (high-tension) and LT (Low-tension) consumers by 30 percent will have an adverse impact on exports, Shativel claimed.

TEA in in order to recapture the Canadian market and also increase India’s exports to Canada has urged the Government to make efforts for a Free Trade Agreement (FTA) with Canada.