One year of demonetisation: Tirupur knitwear industry frays at the seams

The 1,200-odd units in Tirupur's main market and other job works centres were doing a business of Rs 15,000 cr before Nov 8. Today, not even 40% of that business is left

A year ago, S Venkatesh was running a job works unit and was employing around 10 people. Today, he works as supervisor in a large garment unit in the knitwear hub of Tirupur. He is one of the hundreds of workers who had turned entrepreneurs, but had to again fall back on doing jobs as they decided to close down their factories, not being able to withstand the pressure of demonetisation, followed by the goods and services tax (GST).

The situation is not different in Khaderpettai Market, which sells clothes that have been rejected in the export market in Tirupur. These