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Tirupur knitwear exports up eight per cent

Tirupur knitwear exports have grown 8.3 per cent this fiscal compared to the previous fiscal. Domestic sales were Rs 24,000 crores, taking its total business during the fiscal to Rs 50,000 crores. Exports picked up in the last six months of fiscal 2019 after a sluggish growth in the first half. The annual average export growth in the last fiscal was seven per cent. In the last six months, the average export growth was 31.15 per cent.

Factors like changing design patterns across the globe, changing lifestyles both in India and abroad, availability of cotton, skilled workforce, a fashion-oriented world, more per capita spending on garments and China’s non-aggressive push are among the host of things that have benefited Tirupur exporters. For the past two years, the industry was struggling due to various reasons, including demonetisation, implementation of GST and the overall volatile global economy.

Children’s and women’s garments continue to drive Tirupur exports. Together, this segment garners 70 per cent of the total business while the rest comes from men’s wear. Traditional markets such as the US, Europe, Africa and Latin America continue to be the major export destinations for the cluster. The Tirupur cluster’s target is Rs 1,00,000 crores (both exports and domestic sales) by fiscal 2022.

 
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