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Garment exports in Tiruppur resurge during Feb-Mar’24: TEA

  

Garment exports from Tiruppur resurged in February and March this year after enduring a prolonged period of sluggish demand.

Data from the Tiruppur Exporters’ Association (TEA), shows, knitwear exports from Tiruppur grew by 6.4 per cent in February and by 5.6 per cent in March in dollar terms compared to the same period last year. This positive trend mirrors a broader uptick in total garment exports from the country, which increased by 4.8 per cent in February and a 1.7 per cent in March compared to the previous year.

K M Subramanian, President, TEA, notes, Bangladesh's duty-free access to Europe until 2027 alongwith India's anticipated trade agreement with the UK will help boost the competitiveness of Indian garments. As a result, major retailers are expected to focus on India with exports from Tiruppur to grow by 10 per cent the upcoming months.

Kumar Duraisamy, Joint Secretary, TEA, states, having depleted their inventory, smaller retailers from Europe are now actively replenishing it. Additionally, the fallout from last year's decline in orders led to approximately 20 per cent of MSME exporters in Tiruppur shuttering their businesses. Consequently, existing units are operating at full capacity, contemplating expansions, and facing a labor shortage of around 20 per cent in the region.

 
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