With demand coming down from the United States due to the economic slowdown, and in Europe due to the Ukraine war, exporters from India’s largest garment hub Tiruppur are looking to diversify their export baskets to countries like UAE, Australia and Japan. This is after the exports from Tiruppur dipped 21 per cent year on year in October.
The plan to diversify the basket is coming at a time when the global situation is threatening to affect the annual sales numbers of the garment hub. However, some exporters believe that things will be much better during the coming months as yarn prices have declined and dollar rates are favourable for exporters.
“We are looking at countries like the UAE, with