Exporters in Tirupur can finally see a ray of hope after a phase of sparse orders. The exporters are getting a lot of inquiries from the US and Europe, which are likely to convert into actual orders soon. To add to their silver linings, a fall in cotton yarn prices is expected to get them more orders.
“The gradual clearance of stocks on shelves and warehouses, as well as the anticipated higher sales for Christmas and the New Year, are reasons for receiving orders.” While currency is also a positive factor, the reduction in cotton yarn prices to pre-surge levels is a positive factor to enhance our competitiveness,” says K M Subramanian, President of Tirupur Exporters Association. The Russia-Ukraine war led to a change in buying patterns across Europe and the US and as a result, the readymade garments exports took a plunge during the quarter of July-October 2022.
