Exporters from knitwear hub of Tirupur set to increase prices by 10%

Exporters from the knitwear hub of Tirupur are planning to increase prices by around 10 per cent against the backdrop of higher cost of raw materials, mainly cotton and other expenses. The price increase comes after nearly 5-6 years.

Industry representatives have said that they need to go for an at least 15 per cent price increase, but since competition is intensifying from Cambodia, Vietnam and other countries, they have decided to raise the prices by just 10 per cent.

The only saving grace is that with cotton rates increasing globally, some competitors are also planning to raise prices, though