Tirupur Exporters’ Association (TEA) has submitted pre-budget memorandum for the ensuing Union Budget 2021-22 to the Union Minister of Finance Nirmala Sitharaman and requested to address the same.

Arvind Kumar Sharma (1988 IAS, Gujarat) who is presently Secretary, Ministry of Micro, Small and Medium Enterprises (MSME), has been given additional charge of Secretary, Ministry of Textiles.

Notwithstanding loss of work for nearly two months and partial cancellation of orders when Covid-19 struck the key markets of US and EU, the multi-crore knitwear industry in Tiruppur is on the course to recovery by clocking over Rs 14,000 crore in exports in the first eight months of this fiscal.

Chennai: A combination of factors — US ban on Chinese cotton, a sudden surge in orders for garments, additional stocking up, increased exports to Tirupur’s competitors including Vietnam and Bangladesh — have resulted in yarn shortage for garments exporters.

Accelerating electric mobility, enhancing competitiveness of textiles industry, improving credit access for small and medium enterprises, and pushing water conservation measures will dominate Niti Aayog’s to-do list in the new year as it seeks to further the government’s reforms agenda for sustained economic growth.