Memorandum submitted to Prime Minister
Products becoming costlier
Tirupur: Displeasure over the steep increase in cotton yarn prices at regular intervals during the last few months has started spreading among apparel manufacturers as more and more garment associations are coming out in open against the escalating costs. In a memorandum submitted to the Prime Minister, Knit Cloth Manufacturers Association president S. Rathinasamy had requested the Centre to impose 20 per cent export duty on cotton yarn like in Pakistan besides taking a direct control over the production and export of cotton and cotton yarn.
South India Hosiery Manufacturers Association (SIHMA) president A. C. Eswaran, in a similar appeal to the Prime Minister, wanted the Union Government to constitute a committee comprising representatives of Cotton Corporation of India, yarn manufacturers, and exporters, powerloom and hosiery manufacturers associations to ensure steady supply of yarn for domestic consumption. “Only if yarn is made available in requisite quantities at cheaper rates, the domestic apparel industry can survive in the long run,” Mr. Eswaran said.
According to apparel manufacturers, the abnormal increase in yarn prices since August 2009 has put the industry into a tight position as the end products are becoming costlier in the price-driven garment market.
05 June, 2010 by admin