TEA's 28th AGM concerned about falling export
The 28th AGM of Tirupur Exporters’ Association (TEA) was recently organised in Tirupur. Addressing the
AGM, Raja M Shanmugham, President, TEA shared the year long activities, efforts and achievement of TEA. He highlighted that apparel industry has been facing a lot of challenges in the business environment, externally and also domestically, which could be mitigated with the help of Government support and by also efficiently running our units. “The total apparel exports from India clocked Rs. 1,07,679 crore in 2017-18 compared to
Rs. 1,16,508 crore achieved in previous year 2016-17. The all India knitwear exports in 2017-18 declined to Rs. 51,526 crore against Rs. 55,150 crore recorded in 2016-17, a negative growth of 7 per cent in terms of Rupee and 3 per cent in dollar terms. During this period, Tirupur knitwear exports has also come down from Rs. 26,000 crore to Rs. 24,000 crore and the share of Tirupur Knitwear exports was also more or less maintained at the same level, that is 46.58 per cent,” Shanmugham said. He further added that the most worrying factor in the last financial year was the continuous decline of exports since October 2017, after three months GST transition period, till March 2018 and during this period, from October to March 2017-18, the knitwear exports saw an unprecedented fall, declining by 21 per cent, from Rs.28,100 crore in the corresponding period in the previous year 2016-17 to Rs. 22,317 crore in the present year.