COIMBATORE: After stagnating for three years, garment exports from Tirupur have started to grow at a fast clip. Garment exports, which have been Rs 12,500-13,000 crore a year for the last three years, are expected to grow by a robust 18% in the current financial year.
With the order book starting to improve since the beginning of 2013, exporters had said in April that shipments would increase by 10% for 2013-14. "The vibrancy is coming back. The rupee depreciation is helping us get more orders. So, we expect 18% growth in the current (financial) year," said A Sakthivel, president, Tirupur Exporters' Association ( TEA). "The response has been good both in traditional and non-traditional markets," he said.
Raja M Shanmugham, MD of Tirupur-based export house Warsaw International, said, "Buyers are giving preference to India while placing new orders." Premal Udani, MD of garment export house Kaytee Corporation, said, "The American market has revived."
Incidentally, readymade garment exports from the country have registered a 14% increase in dollar terms to $6 billion in April-August. The poor safety record of Bangladesh, a key competitor, is working to the advantage of garment exporters. "The (retail) chain stores in the European Union are also under pressure not to buy from countries where the compliance record is poor," senior industry officials said.
Sakthivel said, "Disney and Gap (leading retailers) have already given directions not to buy from Bangladesh."
Source:-timesofindia.indiatimes.com
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