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    Global apparel companies are negotiating hard with Indian exporters for better rates as cotton prices have fallen 15% and the rupee has depreciated against the dollar. This favors importers who are asking Indian exporters to supply garments at pre-COVID prices. The impending recession pressures in the US and Europe are also pushing importers to negotiate prices lower. In response, Indian exporters are looking to develop new markets in countries like Japan, Australia, and Latin America.

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    Global apparel companies are negotiating hard with Indian exporters for better rates as cotton prices have fallen 15% and the rupee has depreciated against the dollar. This favors importers who are asking Indian exporters to supply garments at pre-COVID prices. The impending recession pressures in the US and Europe are also pushing importers to negotiate prices lower. In response, Indian exporters are looking to develop new markets in countries like Japan, Australia, and Latin America.

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    5 views3 pages

    Global Apparel Companies Seek Better Rates

    Uploaded by

    Star
    Global apparel companies are negotiating hard with Indian exporters for better rates as cotton prices have fallen 15% and the rupee has depreciated against the dollar. This favors importers who are asking Indian exporters to supply garments at pre-COVID prices. The impending recession pressures in the US and Europe are also pushing importers to negotiate prices lower. In response, Indian exporters are looking to develop new markets in countries like Japan, Australia, and Latin America.

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    7/12/22, 4:29 PM textile industry: Global apparel companies seek better rates as rupee falls - The Economic Times

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    Business News › Industry › Cons. Products › Garments / Textiles › Global apparel companies seek better rates as rupee falls

    Global apparel companies seek better rates as


    rupee falls
    1
    By Sutanuka Ghosal, ET Bureau Last Updated: Jul 11, 2022, 11:40 PM IST
    SHARE FONT SIZE SAVE PRINT COMMENT

    Synopsis
    The impending recessionary pressure in the US and Europe are forcing global brands to
    negotiate hard with Indian exporters, who have now started looking at other countries
    like Japan, Australia and Latin America for developing new markets for Indian apparels.

    https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/global-apparel-companies-seek-better-rates-as-rupee-falls/articleshow/92811941.cms 1/16
    7/12/22, 4:29 PM textile industry: Global apparel companies seek better rates as rupee falls - The Economic Times

    Global apparel brands are negotiating


    ThinkStock Photos

    hard with Indian exporters as cotton


    prices have fallen 15% and rupee has
    depreciated against the dollar
    favouring the latter. They have asked
    Indian apparel exporters to supply
    garments at the pre-covid level prices.

    The drop in cotton prices have prompted global


    brands to initiate hard negotiation in the price The impending recessionary pressure
    front.
    in the US and Europe are forcing global
    brands to negotiate hard with Indian exporters, who have now started looking
    at other countries like Japan, Australia and Latin America for developing new
    markets for Indian apparels.

    "Cotton prices have dropped by 15% from the high of Rs 1 lakh per candy (356
    kg). It will fall further in the coming weeks," said Narendra Goenka, chairman,
    Apparel Export Promotion Council (AEPC).

    Popular in Cons. Products


    Chinese textile industry
    https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/global-apparel-companies-seek-better-rates-as-rupee-falls/articleshow/92811941.cms 2/16
    7/12/22, 4:29 PM textile industry: Global apparel companies seek better rates as rupee falls - The Economic Times

    1. suffers profit erosion, orders


    flow to Vietnam, India

    2. Eureka Forbes names Pratik


    Pota as CEO & MD

    3. Recycle Textile Federation


    formed, plans to unite mills
    across nation

    But the drop in cotton prices have prompted global brands to initiate hard
    negotiation in the price front. Raja M Shanmugham, president, Tirupur
    4. Explain how import duty cut
    on two edible oil varieties
    will help boost supply: Govt
    Exporters Association (TEA) said "Global buyers now want garments at the to industry bodies
    pre-covid prices. For instance, the price of a product which we have sold at $7
    this year due to high cotton prices, they are now asking to offer it at $5 - the
    price at which we had sold in pre-covid times."

    Since rupee has depreciated against dollar, foreign buyers are driving hard
    bargains to lower the prices of garments. On account of rising dollar index and
    economic worries, rupee weakened to a fresh record low of 79.41 against the
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    opened lower at 79.30 and went on to slide further, breaching its previous
    record low of 79.37 levels.

    https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/global-apparel-companies-seek-better-rates-as-rupee-falls/articleshow/92811941.cms 3/16

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