With the country's readymade garment exports achieving a positive growth of 4.7 per cent, knitwear exports from nearby Tirupur are estimated to record 8.3 per cent growth in 2018-19. The country's readymade garment exports recorded Rs 1,12,715 crore in 2018-19 as against Rs 1,07,679 crore achieved in 2017-18, a growth of 4.7 per cent, Tirupur Exporters' Association president Raja M Shangumugham said in a release Wednesday.
Knitwear exports from Tirupur are estimated to be Rs 26,000 crore in 2018-19 against Rs 24,000 crore in 2017-18, growing by 8.3 per cent, he said. Expressing happiness that after two years of struggle, Tirupur exports have returned to the growth trajectory, he appreciated the exporter's perseverance.
He was confident that with the continuance of positive growth trend coupled with the recent increase in Rebate on State and Centre Taxes and Levies (RoSCTL) rate and formation of a stable government, the exports are poised to surpass Rs 30,000 crore in the current fiscal.
(With inputs from agencies.)