Tirupur exporters body Tirupur Exporters Association (TEA) has said shipment of knitwear from the region have grown to Rs 20,730 crores in 2014-15 and is expected to touch the target of Rs 36,000 crores by 2016-17. At the 25th Annual General Meeting of TEA, President A Shaktivel said input factors were more or less favourable, which helped them to clock 15 per cent growth compared with 2013-14 financial year. At the moment, all-India market share of Tirupur in knitwear exports is 44.29 per cent. This figure would go up once the industry starts exporting synthetic-based garments, which have a market throughout the year globally, he added.

Backed by favourable cotton yarn prices, knitwear exports from Tirupur increased to Rs 20,730 crores up from Rs 18,000 crores in 2013-14; a growth of 15.52 per cent in rupee terms and 15.94 per cent in terms of foreign currency. The total readymade garment exports from India, for the first time crossed the Rs one lakh crore-mark in 2014-15 to touch Rs 1.03 lakh crores. Of this, knitwear exports were Rs 46,801 crores, with a share of 45.43 per cent, informed Shaktivel.

While expressing concern over the delay in proposed Free Trade Agreement with the EU, Shaktivel said that the Comprehensive Economic Partnership Agreement with Canada and Australia should happen before end of 2015 to increase exports to these countries.

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