Summary:
more-inAfter witnessing a steady growth for the last many financial years, the knitwear exports from here have witnessed a decline of 3.93 % during the 2017-18 fiscal. This decline in exports occurred at a time when the overall trade in U.S.
dollar, euro and British pound were more or less steady when compared to the previous years. “Some of the reasons for the decline in exports may be the cash crunch caused by the reduction of incentives after the introduction of GST, low production efficiency, and trade tariff barriers in the U.S.
and European markets,” said S.
Dhananjayan, a chartered accountant. Many exporters here feel that the Union Government should sign the Comprehensive Economic Cooperation Agreement with Australia, Free Trade Agreement with European Union, Preferential Trade Agreement with Great Britain and Economic Partnership Agreement with Canada to help exporters attain price competitiveness in global market. The export growth rate during 2016-17 was 10.04 %..