Much to the shock of the garment manufacturers, especially in Tamil Nadu, textile mills have increased the yarn prices by Rs. 40 per kilogram for all counts on Monday (2nd May) and this has happened at a time when the survival of knitwear exporting units is at stake due to various other adverse factors like Russia–Ukraine War, increasing of accessories, job working and freight charges.
Looking at this, exporters in Tirupur are also planning to take some serious steps like stopping production once a week and forcing the Government to provide a solution to this challenge.
Raja M Shanmugham, President, Tirupur Exporters’ Association (TEA) said the softening of cotton and cotton yarn prices could be witnessed only when the Government takes a serious view and bans cotton and cotton yarn exports and this could continue until the prices are regularised in the domestic market.
He appealed to the Textiles Secretary to consider the employment, servicing of banks, value-added garment exports and to protect the garment sector to use his good offices to ban cotton and cotton yarn exports immediately till the time prices are stabilised and he strongly feels that thereafter, the whole textile industry will function as a win-win situation for all stakeholders.
After noting the plight of Tirupur knitwear garment exporters, he said the knitwear garment exporters are running out of solution, as they could not complete the orders taken already based on the previous input costs, leave alone the future orders.
Source : https://in.apparelresources.com/