Garment exports from Tirupur up 16% at Rs 23,050 cr in FY16

Garment exports from Tirupur, a major knitwear hub of the country, grew by 16.3 per cent to Rs 23,050 crore in 2015-16.

Garment exports from here stood at Rs 20,730 crore in the previous fiscal, Tirupur Exporters Association (TEA) President A Sakthivel told reporters.

Apparel exports from the country rose 8 per cent y-o-y to reach Rs 1.1 lakh crore in 2015-16, particularly due to increased orders from European Union (EU), the largest importer of Indian garments.

Exports from Tirupur would sustain the growth in the current fiscal too following good demand from EU, he said, adding that this can be doubled if the Free Trade Agreement (FTA) is finalised.

"We have seen growth in Europe. We are getting new buyers.

Exports can jump to Rs 50,000 crore if the FTA with EU is in place," Sakthivel said.

With China moving away from manufacturing to IT and services sector, Tirupur's garment manufacturers are looking forward to a sustained improvement in business, he added.

"The share of apparel in China's textile exports has come down from around 15 per cent to 7 per cent in the last one year. There would be more opportunities," he said.