Port Wings News Network:
The all India Readymade Garment exports recorded Rs.1,12,715 Crore in 2018-19 against Rs.1,07,679 Crore achieved in 2017-18, with a positive growth of 4.7% revealed by Ministry of Commerce and Industry.
In a press release, Shri. Raja M Shanmugham, President said the knitwear exports from Tirupur is estimated to be Rs.26,000 Crore in last year 2018-19 against Rs.24,000 Crore in 2017-18, with a growth of 8.3%. He pointed out that though the annual average export growth of 7% was recorded in last year, while analyzing the knitwear export trend, in the last six months, the average export growth was significant about 31.15% over the corresponding period in 2017-18.
Shri. Raja M Shanmugham was glad to mention that after two years of struggling, Tirupur exports has resumed back to the growth trajectory.
While appreciating Tirupur exporters’ usual perseverance against all odds, he is confident that with the continuance of positive growth trend coupled with the recent increase in RoSCTL rate and formation of stable Government, Tirupur exports is poised to surpass Rs. 30,000 Crore in the current financial year 2019-20.