Related Keywords: crossed twenty thousand crore mark, demand slowdown, export house, first time ever, Garment exporter, rupee termsswift depreciation of euro, sharp fall in growth, TEA. negative impact on exports, Tirupur largest hub for knitwear exports
Tirupur, the largest hub for knitwear exports in India for the first time ever in 2014-15 crossed Rs 20,000 crore but the growth in rupee terms has fallen sharply due to the swift depreciation of the Euro. . A Euro, which was commanding 85 in January 2014, gets only about 66 now is spoiling the export party in Tirupur.
Europe is the largest market for Tirupur's garments which accounts for about 48% of the exports from Tirupur, the US constitutes only 25% of the shipments from the knitwear town. A Euro has depreciated 14% against the rupee so far in 2015.
