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Wed, Feb 20, 2019 | Last Updated 12:28 am IST

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Knitwear industrialists expects exports to pick up from 2018-19

Knitwear industrialists expects exports to pick up from 2018-19
Knitwear industrialists expects exports to pick up from 2018-19

Tirupur sources stated that in a worrying trend garment and knitwear exports continue to decline since 2017 from the ‘dollar city’. Meanwhile this has prompted the Tirupur Exporters Association (TEA) to press for immediate remedial measures from the Central and State governments to improve the competitiveness of the sector and bring back knitwear exports on the growth trajectory.

As per report the 28th annual general body meeting of TEA was convened in Tirupur on Saturday. Moreover after the meeting, president Raja M Shanmugam said, “the total ready made garments exports from India clocked Rs 1,07,679 crore in 2017 - 18 compared to Rs 1,16,508 crore achieved in the previous year of 2016-17.

Knitwear industrialists expects exports to pick up from 2018-19

Furthermore the TEA Chief added However, in the first four months of the current year, total knitwear exports came down to Rs 16,732 crore against Rs 19,182 crore clocked for the corresponding months in 2017-18, a negative growth of 13%. Moreover according to him, the impact on exports after implementation of GST and consequent reduction in duty drawback and rebate of state levies (ROSL) is quite evident from the continuous decline in exports. Further he suggested that sliding exports could be brought back to the growth trajectory only by enhancing our competitiveness. 

Knitwear industrialists expects exports to pick up from 2018-19

Knitwear industrialists expects exports to pick up from 2018-19
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