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India: TEA’s 28th AGM mulls over challenges facing knitwear exports

The 28th AGM of Tirupur Exporters’ Association (TEA) held recently expressed concerns over the challenges that the apparel industry has been facing both externally and domestically, which could be mitigated with the help of government support and efficiently running the units.

The total apparel exports from India was Rs107,679 crore in 2017-18, compared to Rs 116,508 crore in previous year 2016-17. The all India knitwear exports in 2017-18 declined to Rs 51,526 crore as against Rs 55,150 crore in 2016-17. During this period, Tirupur knitwear exports also declined to Rs 24,000 crore while the share of Tirupur knitwear exports was more or less stable at 46.58 per cent.

The most alarming factor in the last financial year was the continuous decline of exports since October 2017, after three months GST transition period, till March 2018. During this period, from October to March in 2017-18, knitwear exports declined 21 per cent to Rs 22, 317 crore from Rs 28,100 crore in the corresponding period in previous year 2016-17.