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Clothing exports to decline 7-9% in current fiscal – Mr Vaid
22 Dec '09
2 min read
Clothing exports are expected to witness a decline of 7-9 percent in the current fiscal year (2009-10), when corresponded with the achievements of the previous year.
Speaking at the inauguration of the Knitwear Technology Mission (KTM) building in Tirupur, Mr Rakesh Vaid, Chairman of Apparel Export Promotion Council (AEPC) said that, exporters could expect a recovery, but pricing still remained a sore point.
He added by saying, “Compared to September this year, yarn prices have gone up 15-17 percent, but we are not able to pass it on and the unprecedented increase in yarn prices and an expected appreciation of the rupee could further impact apparel shipments.”
Mr Rajendra Hinduja, Managing Director of Gokaldas Exports said that cost of raw materials makes up for 55 percent of manufacturing cost in apparels and the impact of rise in yarn prices has resulted in 15 percent rise in the cost of production.
He further said that Tirupur had a huge potential in increasing exports from the current $2.5 billion to $10 billion by 2015, but the cluster should start using manmade fibres and exporters must start exploring opportunities in using blended fabrics in knitwear.
KTM has been envisaged to focus on developing new fabrics from man-made fibres, blends and functional apparel along with conducting R&D activities in manmade fibres and has been built at a cost of Rs 80 million.
Speaking at the inauguration of the Knitwear Technology Mission (KTM) building in Tirupur, Mr Rakesh Vaid, Chairman of Apparel Export Promotion Council (AEPC) said that, exporters could expect a recovery, but pricing still remained a sore point.
He added by saying, “Compared to September this year, yarn prices have gone up 15-17 percent, but we are not able to pass it on and the unprecedented increase in yarn prices and an expected appreciation of the rupee could further impact apparel shipments.”
Mr Rajendra Hinduja, Managing Director of Gokaldas Exports said that cost of raw materials makes up for 55 percent of manufacturing cost in apparels and the impact of rise in yarn prices has resulted in 15 percent rise in the cost of production.
He further said that Tirupur had a huge potential in increasing exports from the current $2.5 billion to $10 billion by 2015, but the cluster should start using manmade fibres and exporters must start exploring opportunities in using blended fabrics in knitwear.
KTM has been envisaged to focus on developing new fabrics from man-made fibres, blends and functional apparel along with conducting R&D activities in manmade fibres and has been built at a cost of Rs 80 million.
Fibre2fashion News Desk - India
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