Tirupur,about 20,000 workers are to lose jobs.Exports have plummeted steeply in the first half of this financial year and projections for the remaining half of the Fiscal look 'unenthusiastic'.Retrenchment has become imperative as exports for the first six months of this financial year ending September 30 has declined to Rs 5,050 crore from Rs 5,350 crore registered during the corresponding period last fiscal.
In terma of earnings in U.S dollars,the downturn was pegged at 10 percent.There had been a 30 percent decline
in orders placed with the tirupur Knitwear cluster.
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