Tirupur: The recently concluded India–New Zealand and India–United Kingdom free trade agreements present significant growth opportunities for the apparel sector, said Tirupur Exporters’ Association (TEA) president K M Subramanian.Speaking at a session on the central govt’s RELIEF (Resilience & Logistics Intervention for Export Facilitation) scheme organized by the Export Credit Guarantee Corporation of India (ECGC) in the city on Tuesday, Subramanian highlighted Tirupur’s potential to emerge as a global hub for apparel manufacturing and stressed the need for capacity expansion. Nawaz Khan, manager, ECGC, Tirupur, said ECGC provides comprehensive insurance cover against commercial and political risks, including non-payment by overseas buyers. L Lokesh, assistant manager, ECGC, Tirupur, said the ‘RELIEF’ scheme aims to help exporters manage losses arising from global disruptions, rising freight costs and buyer defaults. More than 40 member companies participated in the session and clarified their queries with ECGC officials.
