New Delhi, 11 Jan (KNN) In view of the continuously increase in prices of yarn, the exporters of apparel in Gautam Budh Nagar, Noida wrote a letter to the Ministry of Textiles on Monday, highlighting this issue.

They have urged the authority to decrease the yarn prices as the current prices are adversely affecting the garment industry in the district, as per media reports.

The President of Noida Apparel Export Cluster (NAEC), Lalit Thukral who is also an executive member of Apparel Export Promotion Council (AEPC) said that INR 130,000 crore is the total export value of the apparel sector in India out of which INR 40,000 crore revenue is generated alone in the state of Uttar Pradesh.

Noida accounts for approximately 3,000 garment export firms generating early INR 32,000 crore revenue through apparel export.

“Exporters enter into a price agreement with the buyers at least six months before the supply of apparels. Now, as the mills have been increasing the prices frequently and arbitrarily, the buyers or importers are not willing to increase the prices as well,” Thukral said, adding that this has made the situation worse for the Indian exporters, especially those in Gautam Buddh Nagar.

The Apparel Export Promotion Council (AEPC) is an autonomous, nonprofit body dedicated to promotion of exports, The, popularly known as TEXPROCIL has been the international face of cotton textiles from India facilitating exports worldwide.