Tirupur

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Garment manufacture

2020: Q3 sales

Rajesh C, December 17, 2020: The Times of India

Garment sales by Tirupur manufacturers, 2020: Q3
From: Rajesh C, December 17, 2020: The Times of India

Knitwear hub Tirupur may see exports for the October-December period increase by 15% in volume, making it among the best quarters ever. A combination of pent-up demand, anti-China sentiment, a favourable euro and business resilience will make a perfect Christmas gift for the garment makers.

“We expect exports to grow at least 10% by value for this quarter,” said Raja Shanmugham, head of Tirupur Exporters Association. The demand has been so strong that exports for the current fiscal may top last year’s Rs 25,000 crore even though more than two months were lost due to lockdown and production impairment due to labour shortage. “The growth that we are seeing is here to stay,” said Apparel Export Promotion Council’s head A Sakthivel.

Not just exports. Stocking up by domestic brands has been high, driving business. “Domestic demand is matching exports. We expect domestic supplies to overtake exports, if the present demand continues,” Shanmugham added. Tirupur usually exports 60% of its merchandise.

American embargo on exports of cotton from China and knitwear made using Chinese cotton is helping Indian exporters. “Several brands are now avoiding China and coming to Tirupur,” he said. The rupee which was at 78.97 against the euro last year is now at 89.47. This is a leg up considering the European Union is the largest importer of Tirupur garments.