Tirupur, a bustling hub of Tamil Nadu’s textile industry, is poised for significant growth following the landmark India-US trade agreement. Exporters here are optimistic about a surge in investments and job creation, thanks to enhanced access to the vast American market.
The Tirupur Exporters Association (TEA) has warmly welcomed the deal, with Secretary General Thiru Kumaran highlighting its potential to supercharge the Indian textile sector. ‘This agreement will open new doors for manufacturers and exporters, bolstering global confidence in our products,’ he stated.
Kumaran pointed out that Tirupur, already contributing around $5.2 billion in exports annually from India’s total $16 billion textile exports, stands to gain immensely. The association anticipates these figures could double within three years, paving the way for substantial investments and thousands of new jobs.
Adding to the optimism is the anticipated India-EU Free Trade Agreement (FTA), expected by year-end. ‘Combined, these pacts will drive explosive growth in Tirupur’s textile industry, potentially doubling our earnings next year,’ Kumaran predicted.
Experts note that the sector’s expansion will not only boost exports but also create employment opportunities across the value chain, from spinning mills to garment units. The recent central budget, with its pro-development measures, is seen as a catalyst for further investment.
TEA leaders have praised Prime Minister Narendra Modi, Commerce Minister Piyush Goyal, Textiles Minister Giriraj Singh, and Finance Minister Nirmala Sitharaman for their roles in facilitating these trade advancements and supportive fiscal policies. As Tirupur gears up, the ripple effects could transform Tamil Nadu’s economy.