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TEA proposes 10 per cent increase in garment prices

As knitwear garment exporters in Tirupur operate on wafer-thin margins, under-cutting of rates to bag export orders is rather rampant. TEA has decided to take a call on this issue, and requested its members to ask their buyers to consider a 10 per cent increase in garment prices while finalising orders. Yarn prices have gone up 20-25 per cent and so have dyeing rates. At this juncture, units cannot afford to ignore input costs. They can instead show this message to the buyer when negotiating a deal rather than relent/budge.

Asked if the timing was right for an upward price revision, considering that the government has effected a 10 per cent increase in basic custom duty on specified textile products from July 16, Raja M Shanmugham, President, TEA maintained it was a separate issue. The industry had been requesting the government to curb the back-door entry of Chinese textile goods, he added.

 

 
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