The knitwear hub of Tirupur in Tamil Nadu has clocked garment exports worth about a whopping Rs 17,800 crore during the 2013-14 fiscal.
Fall in the rupee rates and almost 95 per cent compliance to standards was the major reason for the record performance, A Shaktivel, president, Tirupur Exporters Association and immediate past chairman of Apparel Export Promotion Council, told reporters here last night.
Tirupur has registered exports of Rs 11,810.6 crore in 2009-10, Rs 13,285.06 crore in 2010-11, Rs 13,056.30 crore in 2011-12, Rs 13,709 crore in 2012-13 and a record Rs 17,817.08 crore during 2013-14 fiscal, he said.
Moreover, increased manufacturing cost in China and its concentration on engineering goods coupled with increased purchasing power in European Union Market, also helped the growth, he said.
Stating that revival of United States market and penetration into new markets like Japan, Australia and South America had improved the performance, Shaktivel said of the exports, EU contributed 43 per cent, US 23 per cent and others 34 per cent.
Considering this export growth of Tirupur, India has a bright future on the garment export front, he said.
However, entering into Free Trade Agreement with EU, which was delayed due to some technical and administration problem at the Centre, would further boost growth and India would be number one exporter of garments in the near future, he said.
The 38th edition of India Knit Fair for Spring/Summer Collection 2015, will be held here from May seven, which would be inaugurated by Zohra Chatterjee, Secretary, Union ministry of textiles, he said.
Stating that 75 buyers and 120 buying agents were expected to attend the three day event, Shaktivel said since export and Indian retail has undergone a change in recent years, it has been decided to provide an opportunity also to domestic retailers for sourcing.
