After experiencing an 11 percent contraction in exports in 2023-24 (FY24) due to a dip in exports for 10 consecutive months from April to January, the Tiruppur textile industry is back on track in 2024-25 (FY25).
The cluster, which contributes 55 percent of the country's total knitwear exports, posted a 13 percent increase in the first five months of this financial year (FY25), with August seeing a 22 percent rise—the highest in over two years.
Additionally, global majors like Primark, Tesco, Tommy Hilfiger, Marks & Spencer, and Warner Bros. Discovery Global Consumer Products, among others, are lining up to place orders with manufacturers from this textile city.
According to the Tiruppur Exporters' Association (TEA), a major reason for this shift is the Green Tiruppur sustainable strategy adopted by the manufacturing units, which has made the hub more attractive to buyers in the US and Europe.
This story is from the November 12, 2024 edition of Business Standard.
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This story is from the November 12, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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