Buyers express satisfaction with design and collections displayed
The 45th edition of India International Knit Fair featuring all seasons organised by Apparel Export Promotion Council in collaboration with Tirupur Exporters’ Association under the umbrella of India Knit Fair Association at IKFA Complex, Tirupur from16th to18th May, 2018 was concluded successfully.
The fair was inaugurated by V Sathyabama, Member of Parliament, Tirupur Constituency in the presence of HKL Magu, Chairman, AEPC, Rakesh Vaid, Sr. Vice Chairman, ATDC, Dr. A Sakthivel, Chairman, India Knit Fair Association, exhibitors, trade members, and overseas buyers.
V Sathyabama, Member of Parliament, in her address mentioned that Tirupur is always ahead because of their innovation and hard work. Post implementation of GST though the industry faced a lot of issues, knitwear manufactures have taken steps to ensure that there is good business thus making Tirupur a role model for other cities. Further she emphasised that the issues related to impact of GST has been discussed with the Cabinet Ministers and is expected to fetch a solution at the earliest to benefit the knitwear industry.
HKL Magu, Chairman AEPC, in his address stated that there is a 15 per cent decline in exports from Tirupur. It was a good effort of the government in consolidating various taxes and introducing GST. But implementation of the same is not properly being handled. Putting together Duty Drawback, State Levies and MEIS a total of 13 per cent of benefit was given to exporters earlier. Now, the same has come down to 7.7 per cent. Even though WTO discourages in offering grants, it is happy to learn that government will give away 4 per cent relief under MEIS even after the forthcoming June month. In the opening month of this Financial Year, the value of apparel exports was Rs. 8,859.67 cr as against its corresponding value of Rs. 11,272.24 cr which is 21 per cent down from the previous year. Hence, the government should extend their support to the industry so as to recover from the down-ward trend/sluggishness. In this situation, India International Knit Fair (IIKF) will bring renaissance in business thereby fetching more orders in future to the participating exporters.
Dr. A Sakthivel, Chairman- India Knit Fair Association during his briefing, pointed out that the current exports of Tirupur is Rs. 23,000 cr thereby suffering a decline of15 per cent, which is an all time low in past 33 years. He said that decrease in Duty Drawback and imposing of State Levies are the factors affecting this decline. It will be helpful to the exporters if the difference of 2 per cent to 3 per cent paid under embedded taxes to Central and State Governments are to be reimbursed. For this, we are pursuing through AEPC. In order to boost the apparel exports from India we are now encouraging the garment exporters to explore new markets such as South America, Japan and Middle East among few other new markets. Similarly, product diversification is being promoted so that apparel exporters can penetrate niche markets across the globe.
An array of apparel categories for the season was showcased by the exhibitors which include men, women and children wears. In this fair lot of all seasons apparel collections were displayed. The garments made with 100 per cent cotton, 100 per cent polyester, 100 per cent modal linen, poly cotton blends, organic cotton, etc. were showcased by the exhibitors.
Cold pigment dyed garments, mercerized, burnt-out styles, warp knit fabrics, stone wash, anti-microbial finish, moisture management finish, etc. were also noticed as special finished apparels. Exclusively for kids wear, separate stalls were setup and garments were exhibited by the garment exporters. A total number of 40 leading exporters from Tirupur, Coimbatore, Hooghly, Chennai, Mumbai, New Delhi, Gurgaon, had put up their stalls in the fair.
Dr. A Sakthivel, Chairman of IKFA & Vice-Chairman of AEPC and K Vasanth Kumar, Executive Secretary, IKFA, Tirupur have presented the best exhibitor’s awards and appreciation certificates to the following exhibitors: Eastman Exports Global Clothing, Tirupur: Best Exhibit, Clifton Export (P) Ltd, Tirupur: First Runner-Up, International Trading Company, Tirupur: Second Runner-Up, Tirupur Pandit Hosiery Mills Pvt. Ltd., Tirupur: Consolation Certificate.
Nowadays, major buyers are sourcing through buying houses and buying agents – who will play a vital role in sourcing. Buyers/ buying agents have expressed their happiness and satisfied with the excellent design and collections displayed in the fair. In total, 33 buyers from different countries and 147 buying houses/agents have visited the fair. Most of the buying houses/ agents who have visited this fair representing their major buyers and brands have sourced for their requirements.
The three day event attracted new buyers from countries namely Saudi Arabia, Uganda, Turkey, Mexico, the US, Poland, Serbia, Japan, Portugal, Canada, UAE, Columbia, Spain, UK, Germany, Thailand, etc. The teams of buyers from Japan are impressed with the display of garments and have expressed to have a long business association.
The participants have reported that they could get good business enquires from the overseas buyers and buying agents and the expected business deal is around Rs. 325 cr. IKFA gratefully acknowledges the active participation of exhibitors, visiting buyers, buying agents and all stakeholders for the great success of this three-day event. The next edition of India domestic apparel trade show is scheduled to be held From October 5 – 7, 2018 at IKFA Complex, Tirupur.