Prices of all varieties of raw cotton, which is a major raw-material for textiles & clothing products, have increased sharply in the last many months. "The steep increase in the prices of raw cotton is a matter of deep concern for the entire value chain of cotton textiles such as home textiles and fabrics as it makes them uncompetitive in the export markets," said Manoj Patodia, Chairman of The Cotton Textiles Export Promotion Council (TEXPROCIL).
As a result of the high raw cotton prices production costs for large, medium and small exporters have gone up to such an extent that export orders taken a few months back or earlier could now be executed only at a loss, pointed out Patodia.
The Chairman, TEXPROCIL urged the Government to intervene in this matter urgently so that prices of raw materials remain stable and exporters of value added segments like home textiles and fabrics can take a long term perspective while negotiating export orders.
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( With inputs from ANI )
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