Tirupur knitwear garment exports up 16 per cent in first half

In dollar terms, the growth is 13.35% and is likely to touch Rs 21,000 cr during the year

Knitwear garment exports from Tirupur recorded a growth of 16 per cent at Rs 10,050 crore in the first six months of financial year 2014-15 as against Rs 8,650 crore in the corresponding period last year. In dollar terms, the growth stood at 13.35 per cent.

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

Tirupur Exporters Association (TEA)'s president A Sakthivel said the Tirupur export growth rate was in the same league of all the India garment exports growth rate.

The announcement on continuance of three per cent interest subvention on packing credit with retrospective effect from April 1, 2014, and continuance of the existing schemes in the new Foreign Trade Policy 2014-19, would contribute to sustain the export growth, he said.

However, the Tamil Nadu Electricity Regulatory Commission (TNERC)'s proposal to increase the power tariff to HT (high-tension) and LT (Low-tension) consumers by 30 per cent would have an adverse impact on exports, he stated in a release.