Apparel 25-03-2022 Hits: 2706

TEA, Tirupur: Knitwear exports contributed 1% of India's exports in FY22

Apparel 25-03-2022 Hits: 2706

25 March 2022, Mumbai:

Tirupur Exporters Association – popularly known as TEA – was established in the year 1990. This is an Association exclusively for exporters of cotton knitwear who have production facilities in Tirupur. From the modest beginning TEA has grown into a strong body of knitwear exporters.

Today, TEA has a membership of 1076 Life members and 155 Associate Members. The members of the Association, from the beginning, have resolved to develop their organization focusing on Multilateral growth of knitwear industry and exports Development of infrastructural needs for Tirupur.

ALSO READ TEA advocates for a two-year extension of the IES on pre-and post-shipment rupee export credit

Raja.M.Shanmugham, President-TEA, Tirupur

A first generation entrepreneur, Shanmugam hails from an agrarian family. His father was primarily a cotton farmer. Raja M Shanmugam, founder of Warsaw International, a company that was started with Rs 5 lakh in 1989.

*Export of knitwear from Tirupur, near here, clocked US $ 4 billion this financial year, Tirupur Exporters Association (TEA) has said. With this, the exports from Tirupur have contributed one per cent to the total exports worth $ 400 billion from the country, the TEA said in a press release.

President of TEA Raja M Shanmugham thanked Prime Minister Narendra Modi for rebate on State and Central taxes and levies (RoSCTL) for three years for the garment sector, remission of duties and taxes on export products (RoDTEP) for other industries, additional 10 per cent credit under emergency credit-line guarantee scheme (ECLGS), continuance of interest equalisation scheme with retrospective effect from October last year, said the release.

Despite announcing a high export total, the knitwear industry in Tirupur has struggled with high yarn prices over the past few months, even organising strikes to draw attention to the issue.

In January 2022, the TEA announced that yarn prices have been high for 15 months which has has had a significant effect on the industry.

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CREDITS:The Print & Fashion Network.