High yarn prices weaken India's Errod's textile industry

by:JIYALI     2021-08-19
This year, in the Erode textile market in Tamil Nadu, India, the cost of cotton clothing has increased by 15%-20%. Industry insiders believe that a major factor in rising costs is rising yarn costs. Yarn prices in the textile industry in the province have risen by 25%-40% in 6 months.  Other reasons for the increase in clothing prices include the increase in screen printing unit costs and high labor wages. A three-year wage law has made this situation worse, and this wage law is expected to be signed in July. This will once again increase production costs and will automatically provide the final product with an increase in cost.   The president of the Errod Textile and Apparel Exporters Association of India said that the increase in yarn prices was mainly due to the lack of restrictions on raw cotton exports, which resulted in an increase in domestic yarn prices. In addition, labor wages and processing costs have risen sharply. There is no control over these basic factors.   Experts believe that if strict measures are not taken, textile manufacturers will experience losses, forcing them to shut down looms.
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