Tiruppur saw a rise of 6.4% in February and 5.6% in March this year.
Garment exports from Tiruppur experienced growth in February and March this year after enduring a period of decreased demand lasting over a year. According to data obtained from the Tiruppur Exporters’ Association (TEA), knitwear exports from Tiruppur saw a rise of 6.4% in February and 5.6% in March this year when compared to the corresponding period of the previous year, as measured in dollar terms.
Similarly, the overall garment exports from the country also witnessed an increase of 4.8% in February and 1.7% in March compared to the previous year.
KM Subramanian, the president of TEA, mentioned that Bangladesh is granted duty-free access to Europe until 2027. He further noted that with India expected to engage in a trade agreement with the UK, Indian garment products are anticipated to become more competitive. Consequently, major retailers are already seeking suppliers and reserving factory spaces in India. Subramanian projected that Tiruppur is poised to experience nearly a 10% growth in exports in the forthcoming months.
According to Kumar Duraisamy, the joint secretary of TEA, retailers in Europe, particularly small ones, have depleted their stocks and are currently making purchases. Moreover, he highlighted that about 20% of Micro, Small, and Medium Enterprises (MSME) exporters in Tiruppur had to close their businesses due to a decrease in orders last year. As a result, the existing units are operating at full capacity, contemplating expansions, and facing nearly a 20% shortage of labour in Tiruppur.