Apparel Manufacturers In India Expect To Increase Clothing Prices By 10%
India garment manufacturers and
Retailer
They are expected to raise their product price by at least 10%, in order to offset losses caused by soaring raw material prices.
Cotton prices have soared 25-30% in recent months, leading to a simultaneous rise in yarn and fabric prices.
Other costs, such as electricity and labor costs, are also growing at a low cost.
India
Garment manufacturing
Mr. Rahul Mehta, President of the business association, said
raw material
Prices continue to rise, especially cotton prices continue to rise.
Other raw materials and electricity prices are also rising.
He said, "because of inflation, labor wages are also rising linearly, so garment manufacturers have no choice but to pass on the burden of increase to consumers through rising prices."
However, MrJ Suresh, chief executive of Arvind brand, said the Arvind brand did not plan to raise its price in the autumn and winter of 2010, but raised its price in the spring and summer of 2011.
He said clothing manufacturers consider raising prices mainly to offset the increased burden of fabric and other raw materials.
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