Now Reading: Footwear prices in Kerala to rise at least 10% from November 1
-
01
Footwear prices in Kerala to rise at least 10% from November 1
The Story in Brief
Footwear prices in Kerala will rise by at least 10 per cent from November 1, with a pair of shoes or sandals currently priced at Rs 500 costing at least ₹550. The increase was announced at a joint press conference in Kozhikode by the Footwear Manufacturers Association of Kerala and the Confederation of Indian Footwear Industry.
Manufacturers said raw material costs had surged by 40 to 60 per cent because of the Middle East crisis and disruptions to shipping through the Strait of Hormuz. The affected materials include polyurethane, synthetic rexine, PVC, EVA, soles, adhesives and packaging materials. Higher sea freight charges and the withdrawal of tax concessions on basic raw materials have also added to the burden.
The industry has urged the central government to restore tax exemptions and provide import duty relief on essential inputs, machinery and components until supply chains stabilise. Manufacturers said they had absorbed rising costs for months but could no longer continue without passing on some of the burden to protect small businesses and jobs.
Indian Opinion Analysis
The price hike hits consumers in Kerala directly, with the cheapest footwear rising by at least ₹50 from November 1. Manufacturers have absorbed rising costs for months but now cite a 40 to 60 per cent jump in raw material costs, driven by Middle East tensions and the Strait of Hormuz closure disrupting petroleum-based supplies like polyurethane and PVC. The industry is asking the central government to restore tax exemptions and provide import duty relief on machinery and materials. Without that policy support, small factories could shut down. The next step is a government response to FOOMA and CIFI's demands, which will determine whether more price increases follow.
Source: mathrubhumi.com
This brief was synthesised by AI from the source linked above. Methodology and corrections.
