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Indian knitwear exporters see immense growth opportunities

"Tirupur, specialises in cotton knitted garments with over Rs 13,000 crores (1935.98 million USD) of apparel exports and an equal amount on account of domestic sale of inner garments thereby providing employment to over five Lakh people. Tirupur is called the ‘knits capital’ of India as it caters to almost all the famous retail brands across the globe"

 

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Indian knitwear industry’s stooping growth percentage in the past years cannot be neglected despite innovations and experimentations in woven fabric. A study by consultancy firm Wisedge says that about half of the domestic apparel market in India is ruled by knitwear and about 45 per cent in exports. Once restricted to the knitwear-hubs of Ludhiana and Tirupur, the knitwear industry now has several big-small joints all across the nation like Bangalore, Rajasthan and Vapi in Gujarat.

Tiurpur continues to dominate

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Tirupur, specialises in cotton knitted garments with over Rs 13,000 crores (1935.98 million USD) of apparel exports and an equal amount on account of domestic sale of inner garments thereby providing employment to over five Lakh people. Tirupur is called the ‘knits capital’ of India as it caters to almost all the famous retail brands across the globe.

In 2014 -15, knitwear exports from Tirupur touched Rs 21,000 crores (3104.3million USD) as compared to Rs 18,000 crores (2660.9 million USD) in 2013 -14, with a growth rate of 15.52 per cent in rupee terms. The share of knitwear exports from Tirupur in our country was 44.29 per cent. Nearly every international knitwear brand in the world has a strong production share from Tirupur. Some of the world’s largest retailers including C&A, Switcher, Wal-Mart, Primark, Diesel, ARMY, Tommy Hilfiger, M&S, FILA, Respect, H&M, HTHP, Whale, Nike and Reebok import textile items and clothing from Tirupur.

As Tirupur factories are taking utmost care in producing quality garments and maintaining delivery schedule, the retail stores prefer to source from Tirupur. The area provides the best quality and variety in T-shirts, jerseys, pullovers, cardigans, ladies blouses, dresses, children wear, sportswear, night dress, swim wear. The biggies of the region include the Poppy’s, Eastman Exports, and many others. With a sound policy direction and support from the Government, Textile trade from Tirupur have the potential to grow beyond Rs. 1,00,000 crores (14,780 million USD) by 2020 thereby creating additional 15 Lakh jobs in the near future. Investment and Focus towards the first four Ts namely Talent, Technology, Tradition and Tourism will undoubtedly make Tirupur march towards its mission of achieving the targeted business volume of Rs. 1 Lakh crores (14,780 million USD) by the year 2020.

Targets Rs 50,000 crores (7388.0 million USD) exports from India

Tiruppur distroct

A Sakthivel, Chairman, Poppy Group and President, Tirupur Exporters Association (TEA) expects that knitwear exports from India will cross Rs 50, 000 crores (7388.0 million USD) this year. Saktivel says, the retail sector is growing at par with exports and now-a-days, the youth population in the country prefers to wear knitwear garments and is also quickly catching up in tier II and tier III cities. He observed by saying that India is mainly exporting cotton based garments and that too for summer season. If we diversify into manufacturing of synthetic garments, we can export for all seasons and this can increase our exports, he said.

On export front feels Tirupur exports will grow once Free Trade Agreement with EU, Comprehensive Economic Partnership Agreement (CEPA) with Canada, Comprehensive Economic Cooperation Agreement (CECA) with Australia takes place and advocated for early signing of the agreements. However, he feels recession in EU, severe competition from countries like China, Bangladesh, Vietnam, Indonesia and Cambodia, higher bank interest rate, shortage of labour, increase in wages and power cost, fluctuation in foreign currency, increase in transportation cost and following up of compliances are some major challenges.

Ludhiana, keeps its position

The other hub for knitwear, Ludhiana has seen various developments in the industry in its century old existence. It is all set with latest infrastructure and material facilities. The importance of knitwear industry in Ludhiana can be deduced from the fact that 85 to 90 per cent demand of woolens in India is supplied by the region. RMG business in Ludhiana is worth Rs 14,000 crores (2068.6 million USD) including both retail and export markets, from small and medium scale manufacturers, yet the quality is never compromised. The big retail names from the region are: Monte Carlo, Madame, Duke, Miniking, Sportsking among others.

Ludhiana’s main domain lies in winter wear especially in the form of latest fashion in coats and blazers. However, rising price of cotton and yarn, expansion of international labels into the domestic market, processing and innovative finishing systems and technology up gradation are the main hurdle faced in Ludhiana.

 

 
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