After witnessing a drop of around 7% in 2012-13, exports from Tirupur saw 15% growth in dollar terms to $2.95 billion in 2013-14. In rupee terms, the knitwear hub saw a growth of 30%.
The industry exported $2.95 billion worth of goods in 2013-14 as compared to $2.52 billion in 2012-13, according to Tirupur Exporters Association President A Sakthivel. In 2011-12, export was at 2.73 billion.
In rupee terms in 2013-14, exports stood at Rs 17,817.08 crore as compared to Rs 13,709.83 crore in 2012-13 and Rs 13,065.30 crore in 2011-12.
Increased manufacturing cost in China, which went up around 15-18%, fall in rupee value, increased purchasing power in EU market and revival of US market were some of the reasons for the uptrend. Penetration into new markets also helped, said Sakthivel. He noted that in the last fiscal new markets contributed around Rs 600 crore to the overall revenue.
Arguing for government support, Sakthivel said, "If government signs Free Trade Agreement with Europe, Canada, Israel and other countries and changes the policies, the industry has got the potential to double exports in the next 3-4 years or we will grow by around 15%."
Knitwear is one of the major sources for employment in Tirupur. Around four lakh people are dependent on this industry. But in the recent years besides external factors like economic slowdown, the industry is also facing pollution related issues, lack of policy support and infrastructure issues that are affecting exports.
