The Knitwear Technology Mission (KTM) in Tirupur will be operational from May 6. Set up by the Apparel Export Promotion Council at a cost of Rs 13 crores, it is aimed at promoting product and fabric diversification and value addition across the apparel value chain. It would offer the necessary services to trade and industry to develop innovative apparel categories for sportswear, swimwear and varieties of performance wear mainly from manmade fibers like polyester and nylon.
KTM has imported the latest version of the tricot warp knitting machine from Germany, which can be utilised by the Indian apparel exporting community for its sampling needs. The center would also impart consultancy and training in the fields of knitting, processing, garmenting, CAD/fashion designing, new product development, testing and consultancy for yarn and fabrics. It has a facility to train at least 5,000 people every year.
Meanwhile knitwear exporters from Tirupur are optimistic about business ahead. With exports soaring Rs 17,817 crores in the just ended fiscal after stagnating at around Rs 13,000 crores for almost three years in a row, garment exporters are positive about country’s business prospects. India will emerge as the number one country in export of garments in the near future if the new government that comes to power at the Centre succeeds in finalizing the free trade agreement (FTA) with the EU, which has so far been delayed by administration and technical hurdles.
Talking to the media, the past chairman of the Apparel Export Promotion Council and President of Tirupur Exporters’ Association, A Sakthivel said that India’s exports achieved 30 per cent growth in rupee terms compared with last year. He said that the improvement in export figures is due to manufacturing cost in China and non-compliance of factory norms in Bangladesh.
He said that over 95 per cent of the factories in Tirupur adhere to the importers compliant norms stringently and the fall in rupee value and increased purchasing power in the EU market have also helped in improving export turnover from the Tirupur region. Economic recovery in the US market as well as penetration into newer territories such as Japan, Australia and South America has also boosted India’s garment exports.
