Knitwear exports from Tiruppur increased byRs 400 crore in the quarter ending July, as per A Sakthivel, Head-South, Apparel Export Promotion Council.
India's overall apparel exports grew by 13.8 per centduring the quarter, with Tiruppur's exports witnessing significant growth, particularly to markets like the US, Australia, Korea, Japan, and Europe.
As Bangladesh continues to dominate the international apparel export market, India, including Tiruppur, may not see substantial benefits from the current political situation in the country, Sakthivel points out.
Due to Bangladesh being grantedan 11 per cent duty-free status under the Free Trade Agreement (FTA), export order rates vary significantly between Bangladesh and Tiruppur. Tiruppur receives only urgent orders due to its higher pricing, he explains.
To address this disparity, Sakthivel has urged for the establishment of new FTAs, including a forthcoming agreement between India and the UK.
From Apr-July’24, India's apparel exports increased by 7.6 per cent to Rs 42,800 crore. Compared to July 2023, exports increased by Rs 1,400 cror to reachRs 10,677 crore.
KM Subramanian, President, Tiruppur Exporters' Association, states, having grown toRs 33,500 crore in 2023, Tiruppur's exports are projected to rise by 10 per cent this year to Rs 40,000 crore.
