The increase in yarn prices has come as a blow for the knitwear sector and garment exporters, as it will be difficult for same to reach the target set. They have urged the Union Textile Minister K Sambasiva Rao to intervene in reduction of yarn prices raised by spinning mills.
Tirupur Exporters’ Association (TEA) President A Shakthivel in a letter to Union Textile Minister K Sambasiva Rao said that despite appeals from the mills associations, spinning mills refused to concede their requests and justified the increase in yarn prices.
Considering importance and survival of value added garment sector, TEA wanted the Minister to use his good offices to roll back the prices and make the whole textile industry run hassle free, he said.
According to Shaktivel, when all efforts are being made to reach the export target fixed by the Ministry of Textiles, after getting rejuvenation through arrivals of orders, the increase in yarn prices has created a hurdle for the knitwear sector to achieve the level set in this year.
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