High price of raw material is still a challenge for Indian apparel manufacturers and various trade bodies are active in this regard.
The Tirupur Exporters’ Association (TEA) recently held a meeting with the association’s members and discussed the issue of increasing prices of yarn.
It was decided in the meeting that the association will appeal to the Government to ban yarn exports to control prices in the domestic market.
Many apparel exporters of the hub participated in this meeting.
TEA will also appeal to job workers and other associations in the knitwear value addition sector to not hike prices.
Raja M. Shanmugam, President of the association, told that a committee will also be formed that will meet the textile mill associations and discuss the issue.
This committee will hold meetings with mill’s associations to bring down yarn prices and ensure uninterrupted supply of yarn and stability of yarn prices.
At the same time, apparel exporters will appeal to the international buyers to increase the price so that the apparel exporters are able to meet the higher production cost.
It is pertinent to mention here that almost since last 2 months, Indian apparel manufacturers are struggling due to high price of yarn. The supply of yarn is also under pressure at many clusters.
