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Strong rupee weakens Tirupur textile exporters

09
May '07
Rupee appreciation is adversely affecting the textile exporters all over the country. Infact, Tirupur, Tamil Nadu, known for its wide manufacturing industry, is witnessing sluggish scenario.

Tirupur Exporters' Association, President, A Sakhtivel, stated recently at a press meet, “It has become difficult to book fresh orders and offer prices that the buyer wants.”

Sources say that not only are the exporters having a hard time acquiring new orders, some are even cancelling the deals as they are facing huge losses.

“The Indian rupee has appreciated the maximum (around 8 percent) compared with other currencies like the Chinese yuan, the Indonesian rupia, the Bangladeshi taka and the Pakistani rupee during March 6 to April 26,” said PD Patodia, Chairman, Textile Committee, Federation of Indian Chambers of Commerce and Industry.

Experts say that Tirupur exported goods worth Rs11,000 crore, last year, but it may not be able to achieve the target growth of 20 percent this year. Small and medium garment enterprises are among the worst affected.

Industry analysts say that to survive it has become crucial for exporters to raise their prices. However, it is not a realistic option as they will then lose market to cheaper and competitor countries.


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