Latest news with #TiruppurExportersAssociation
Time of India
4 days ago
- Business
- Time of India
Indian textile exporters halt US orders amid doubled tariff impact
Indian textile and apparel exporters from Tiruppur, Noida and Surat will put on hold their manufacturing of US orders after US president Donald Trump doubled the tariff to 50% on Wednesday, as they say uncertainty has increased manifolds. The revised tariff has reduced the competitiveness of the Indian textile and apparel sector in comparison to Bangladesh, Vietnam, Cambodia, whose tariffs are much less than India. The tariff for Bangladesh is 20%, 19% for Indonesia and Cambodia, and 20% for Vietnam. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program A Sakthivel, chairman of Tiruppur Exporters Association , said Indian exporters have decided to stop manufacturing the orders for the US. 'The increased tariff will definitely impact the textile and apparel exports for the next 30-40 days till such time that India works out a favourable Bilateral Trade Agreement with the US," he said. Sanjay Jain, past president, Confederation of Indian Textile Industry (CITI), said for the time being, it is curtains down for textile exports. 'New orders will not come. Old orders will have to be shipped at a loss. We will see a lot of unemployment in labour intensive sectors like textile and leather,' he said. Currently, China is the biggest exporter of textiles and apparel items to the US, followed by Vietnam, India and Bangladesh. Live Events 'The doubling of US tariff is a huge setback for India's textile and apparel exporters as it has further complicated the challenging situation we were already grappling with and will significantly weaken our ability to compete effectively vis-à-vis many other countries for a larger share of the US market,' said Rakesh Mehra, chairman of CITI. The US is India's largest market for textile and apparel exports. India's garment and textile exports to the US fell for the third consecutive month in June, despite increasing 3.3% year-on-year, CITI said on Wednesday, citing data of the Office of Textiles and Apparel, which is part of the International Trade Administration of the United States. This is in sharp contrast to a 15-25% year-on-year growth in India's textile and apparel exports to the US in the first three months of 2025. However, with the announcement of tariffs in April, trade started declining. In contrast, Vietnam and Bangladesh saw an increase in garment and textile exports during the month of June, with a 26.2% and 44.6% year-on-year surge, respectively.
New Indian Express
02-08-2025
- Business
- New Indian Express
Tiruppur knitwear manufacturers are not keen on investment outside TN
TIRUPPUR: Industrialists in Tiruppur are keen on joining hands with investors from outside the state though not keen to make investments outside, said chieftains of the industry bodies. Industry leaders also expressed willingness to start businesses in collaboration with Odisha-based investors. This was in response to Union Education Minister Dharmendra Pradhan's recent invite to local businesses to start ventures in Odisha. Pradhan had invited industrialists in Tiruppur during his recent visit to the city CL Kumar Duraiswamy, Joint Secretary of Tiruppur Exporters Association (TEA), said, "The Union Minister called for starting businesses in Odisha. But it's not easy for us to go there immediately and start a business. We have agreed to provide appropriate suggestions and guidance to investors from that state. After this, we will consider starting joint ventures with them. In other words, investors from Odisha will make most of the investment and our share will be minor."
Time of India
30-06-2025
- Business
- Time of India
Tiruppur Exporters Association seeks govt support for migrants' housing facility
The Tiruppur Exporters Association (TEA), which is facing a labour shortage, has sought the government's support for setting up housing facilities for migrant workers so that the knitwear export hub can attract these workers. Tiruppur currently can employ over 1 lakh additional workers," said K M Subramanian, president of TEA. With the anticipated surge in orders following the implementation of upcoming Bilateral Trade Agreements (BTAs) and Free Trade Agreements (FTAs), the demand for a larger workforce, particularly migrant workers expected to rise significantly, Subramanian said. "However, the lack of adequate housing facilities for these workers poses a serious challenge. As a labour-intensive sector, it is imperative to address this issue promptly," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More "We therefore request government support in establishing hostel facilities, with a funding model comprising 75 per cent contribution from the government and 25 per cent from the industry," the TEA president added. Tiruppur alone contributes to about 68 per cent of the Indian knitwear exports. "We completed the FY25, with Rs 45,000 crore exports, which is 25 per cent more than last year," said the TEA president. Live Events Tiruppur exporters have set an annual growth target of 15 per cent and aim to achieve Rs 1 lakh crore exports by 2030. They are expecting that with the signing of the India-UK Free Trade Agreement (FTA), there will be an increase of 10 per cent in orders when the FTA becomes operational by the end of this year.
