Tiruppur (Tamil Nadu) [India], April 28 (ANI): In a major boost to India's textile industry, the Tiruppur Exporters Association (TEA) has warmly welcomed the historic Free Trade Agreement () signed between India and New Zealand.
New Delhi, Feb 12 (IANS) Commerce and Industry Minister Piyush Goyal encouraged the Tiruppur textile cluster to create five lakh additional jobs and double its export performance over the next three years, assuring that the government will extend full support to exporters, it was announced on Thursday.
TIRUPPUR: Even as the Tiruppur knitwear sector bounces back after a lull due to the hike in US tariffs, exporters believe the Worldwide Responsible Accredited Production (WRAP) certification will help capture the US market in the upcoming days once the tariff regime expires.
TIRUPPUR: Major domestic brands and manufacturers of Tiruppur have decided to increase their prices by 3 to 5% from January 1, due to increasing workers' wages, power tariff, and building rent.
The Tiruppur garment industry is staring at an existential crisis, as job losses and shutdowns of factories in the aftermath of US tariff implementation have started playing out over the past two weeks.
Tiruppur textile exporters are in dire straits with the US tariff imposed in August eating into their margins. If the situation persists over the next two months, Tiruppur may suffer immediate export business losses of ₹2,000–3,000 crore.