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Tirupur Exporter’s Association Hails India-Australia Economic Cooperation and Trade Agreement

Image courtesy: Tirupurexporterscompany.com

Chennai:

Port Wings News Network:

Tirupur Exporter’s Association (TEA) on 2 April 2022 thanked Prime Minister Narendra Modi and, Union Minister of Textile and Commerce Piyush Goyal for signing the much awaited India-Australia Economic Cooperation and Trade Agreement -“IndAus ECTA.” and appreciated for quick succession of the agreement next to UAE.

Shri. Raja M Shanmugham, President of TEA, said that this would boost the confidence of our exporters and help to reach the target of US $ One Trillion of Merchandise exports from our country by 2030.

While mentioning about the All India Knitwear Exports to Australia, Shri. Raja M Shanmugham stated that in the last Financial year, 2021-2022, it was estimated to record about Rs. 925 Crores, with a meagre share of 2% and he was hopeful that the agreement would help to increase the exports to Australia quickly.

Shri. Raja M Shanmugham said the knitwear exports from Tirupur Cluster to Australia was around Rs. 630 Crores in the last Financial year, 2021-2022 and was confident that the exports to Australia will get doubled in next two years.

Shri. Raja M Shanmugham pointed out that Tirupur Knitwear Cluster having 54% share of All India Knitwear Exports achieved US $ 4.25 Billion, with a share of 1.06% All India Merchandise Exports and this achievement was done by MSMEs in the Cluster. He was optimistic that Tirupur Knitwear Cluster units will grab this new found opportunity, take efforts to fulfil the requirements of buyers and enhance exports.

He said that he has sent thanks letter to Prime Minister, Union Minister of Textile and Commerce, and Shri. BVR Subrahmanyam, Commerce Secretary and Shri. Upendra Prasad Singh, Textile Secretary.

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