TEA urges textile mills to save knitwear garment export sector

Tirupur Exporters' Association (TEA) today urged textile mills to 'save' the knitwear garment export sector as cotton yarn price increase by Rs 20 per kg had made it diffucult to sustain themselves in a competitive global environment.

"The beleaguered knitwear export sector has been passing through a challenging business environment further to implementation of GST, which led to a continuous decline of knitwear exports month on month basis since October 2017 after completion of three months transition period, TEA president Raja M Shanmugham said in a release.

Stating that the decline in exports for the second half yearly period of 2017-18 was 21 per cent, he said the most worrying factor was that the negative trend in exports growth was continuing in the current fiscal also