Tirupur exports soar

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Chennai | Published: November 4, 2014 4:38:15 PM

Knitwear garment exports from Tirupur, the knitwear capital of India...

Knitwear garment exports from Tirupur, the knitwear capital of India, have increased 16% in value in rupee terms and 13.35% in dollar terms in the first half of this fiscal (April-September) to R10,050 crore as compared to R8,650 crore reported in the same period last fiscal.

The exports may cross the R21,000 crore mark in 2014-15. “The Tirupur export growth rate is in the same league as the all India garment exports growth rate,” said A Sakthivel, Tirupur Exporters Association (TEA). While appreciating exporters for their efforts in achieving this figure, Sakthivel said the industry is eagerly awaiting the announcement on continuance of 3% interest subvention on packing credit with retrospective effect from April 1, 2014, and also the new Foreign Trade Policy 2014-19.
He said Tamil Nadu Electricity Regulatory Commission’s proposal for increased power tariff to HT and LT consumers by 30% will adversely impact exports. Sakthivel also said Canada has proposed to withdraw the entitlement to the benefit of General Preferential Tariff to 72 countries, including India, effective January 1, 2015.

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