TEA's 28th AGM con­cerned about fall­ing ex­port

Apparel Online - - Industry Live -

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.

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