Financial Daily from THE HINDU group of publications
Thursday, Oct 31, 2002
Financial Daily from THE HINDU group of publications Thursday, Oct 31, 2002 |
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Industry & Economy
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Knitwear & Hosiery Tirupur banian makers seek lower power tariff G. Gurumurthy
COIMBATORE, Oct. 30 THE Tirupur-based Banian Cloth Manufactures Association (BCMA), an industrial body representing the knitwear fabricators, has expressed apprehension that another dose of power tariff hike would put the Tirupur industry in jeopardy. The BCMA, concerned over reports that the Tamil Nadu Electricity Board (TNEB) plans to hike tariff, has asked the State Government to offer a special power tariff package for the Tirupur knitwear industry taking into account the future export potential of the hosiery sector which hinges on the input cost advantage. "For knitwear industry power cost constitutes about 35 per cent of the total production cost. The industry's future survival rests on input costs control and any increase in energy cost would make Tirupur industry uncompetitive," the BCMA President, Mr Ahill S. Rathnasamy, has said. He has stated that realising the importance of the knitwear exports in the total garment export baskets, the Government of India has set in motion a number of proposals to encourage Tirupur as a town of export excellence (TEE). In this background, it was necessary that the knitwear industry should receive support from the State Government to consolidate its manufacturing strength.
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