Garment exporters from Tirupur in Tamil Nadu are seeing a 15 per cent growth for the October-December quarter and are expecting international sales for the current fiscal to surpass the previous financial year’s total of Rs 25,000 crore
Bengaluru: In a heart-warming development, garment exporters from TiruGarment exporters from Tirupur in Tamil Nadu are seeing a 15 per cent growth for the October-December quarter and are expecting international sales for the current fiscal to surpass the previous financial year’s total of Rs 25,000 crorepur in Tamil Nadu are seeing a 15 per cent growth for the October-December quarter and are expecting international sales for the current fiscal to surpass the previous financial year’s total of Rs 25,000 crore, reports a popular website.
Pent-up demand after a period of decreased spending by the consumers coupled with anti-China sentiment amongst the buyers has resulted in a strong revival of demand.
Moreover, it should also be noted that a favourable INR/Euro ratio has also aided the traders considering that the European Union is one of the largest importers of garments from Tirupur.
What is also to be noted here is that, American embargo on exports from China and knitwear made from Chinese cotton is also reportedly turning advantageous for Indian traders and exporters.
More on Tirupur workers:
Tirupur town employs around 6 lakh workers, which includes around 3 lakh individuals who belong to other states. A Sakhtivel, head of Apparel Exports Promotion Council remarked, “Exports are back, with a bang. The growth that we are seeing is here to stay.”
The website also quoted Raja Shanmugham, head of Tirupur Exports Association, believes that exports will enhance 15 per cent by volume and 10 per cent by value in the ongoing quarter. However, he remained cautious of the ongoing trends given that certain European nations are witnessing further waves of Covid-19 infections and is apprehensive that it might impact the Christmas sales.
Given that 40 per cent of Tirupur’s goods are usually circulated to the local markets, he claimed, “Domestic demand is matching exports. We expect domestic supplies to overtake exports, if the present demand continues.”
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