Rising rupee continues to hurt garment exporters

Tribulations continue to impact the textile industry in the north.

At a time when prices of cotton have increased 100 per cent compared to last year, the rupee getting stronger is no good news for the industry, especially the garment exporters. Ashish Bagrodia, president, North India Textile Mill Association maintained the strengthening rupee was hurting garment manufacturers the most.

Nitma claims to represent 20 per cent textile production capacity of the country.

Bagrodia maintained the garment industry was competing against the likes of Bangladesh, Cambodia, and China.

The textile industry has been weathering storm since the last couple of years, from the period global turmoil was witnessed by countries across the world. The prices of one maund cotton has touched Rs 3,800 this year, compared to Rs 2,400-2,500 maund last year.

The export of cotton has basically subsidised cotton mills in countries like Bangladesh and China .