Tirupur has about 6,250 factories, which provide direct employment to 3.5 lakh people (mainly rural women) and indirect employment to about 2 lakh. The units are mainly dependent on the export of hosiery and knitwear, with around 50-55% going to the EU countries, 30-35% to the US and the remaining to other countries. The industry is facing a 25-30% decline in growth this year.
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There is a negative trend seen only in cotton due to competition and overall economic slowdown Whereas orders in value added products like Viscose, Modal based garments are increasing at a growth rate of 10-15%. Research studies say these products move very fast in retail outlets than cotton garments.
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