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G Gurumurthy

Coimbatore June 1 A delegation representing knitwear exporters from Tirupur which recently called on Dr C. Rangarajan, Chairman of the Economic Advisory Council to the Prime Minister, to highlight the adverse impact caused by the appreciating rupee on their exports, has sought some urgent relief from the Centre.

The delegation has pleaded for pegging the rupee vis-à-vis dollar parity at a favourable level, since no rise in their product price to compensate the rupee value appreciation would be acceptable by the importers who may shift to buying from other countries.

The Tirupur Exporters Association (TEA) delegation comprising its secretary Mr G. Karthikeyan, chairman of TEA's banking sub-committee, Mr Raja M. Shanmugam, and executive committee member, Mr R. Shanmugam, has sought governmental intervention, according to a TEA press release.

Even as the Tirupur garment exporters had to bear the brunt of the value losses their exports suffered on account of 14 per cent rise in the rupee value between July 2006 and May this year, the currencies of other competing countries such as Bangladesh, Pakistan, Indonesia and Sri Lanka largely remained stable. In the case of China, the country's biggest competitor in the field, its currency too remained pegged against dollar and hence remained insulated against exchange fluctuation.

The delegation members noted that Tirupur exporters could build their export market over the past 20 years and in the event they lose out their market, it would be difficult task to regain it.

More Stories on : Knitwear & Hosiery | Forex | Exports & Imports | Tamil Nadu

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