Uncontrollable hike in prices of power and yarn, in the recent months have compelled knitwear exporters in Tirupur to decide on a 15 percent hike in the prices of the exportable goods.
With regard to this the Tirupur Exporters Association (TEA) has asked its member units to hold talks with overseas clients in order to reach to a conclusive decision on prices.
Mr A Shakthivel, TEA Chairman told the media, “The cost of power, yarn has gone up. The inflation is continuing to go up. Hence we have asked our member units to ask for a price increase to the tune of 15 percent.”
Mr Shathivel further stated that exporters will be relieved even if the revision was around 10 percent because rupee had depreciated recently making the situation a little bearable.
It had been reported that Tirupur exporters lost around Rs14 billion worth of export orders last year due to rupee appreciation. With the increase in cost of operation, export units had to go easy with their expansion plans.
Mr Shaktivel also denied having employed child labor in any form and in any of its sub-contracting units in the knitwear sector. On the contrary, it vouched for a close monitoring of these factories to ensure that they follow good manufacturing practices.
Mr Shakthivel was also optimistic that, total exports from Tirupur, may reach around Rs115 billion in the current year, up from Rs100 billion of last year.
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