Interviews
Karur weaving units express dissent over spiraling prices
06 May '08
2 min read
The weaving units in the textile town of Karur will observe a strike from May 7 to 9 in a protest against the sharp rise in the prices of yarn in the last few months.
The domestic weaving industry and the export units in the country was anyways suffering immensely due to a series of existing crisis like rupee appreciation, labor shortage, inflation, rising cost of inputs and overheads. Towering yarn prices has done the remaining bit to create difficulties in sustaining the operations of the sector.
Besides, export of waste cotton has further brought about stagnation in the weaving industry pushing up the prices of finished products.
In an exclusive interview with Fibre2fashion, Mr P Gopalakrishnan, Secretary of Karur Textile Manufacturer Exporters' Association stated, “Some 300 exporters, 450 domestic manufacturers, 250 export product manufacturer and 300 dyeing factories are joining hands for supporting the strike.”
Mr Gopalakrishnan also divulged,“Since rupee appreciation and export of waste cotton was already hampering the weaving industry, excise duty was only an additional burden.”
Protestors are basically demanding a control of yarn prices by restricting export of waste cotton, exemption from service tax payable against agent commission in abroad, extension of term loans for 2 years, dual exchange policy, separate trade policy for textile industry and solving the problem of recurrent power cuts.”
Experts believe that about 30,000 laborers may be denied of their wages because of this shut down. In spite of this, another strike will be given force on May 16 in Tamil Nadu wherein all the textile industries and mills will come together for voicing their grievances and making common demands.
Government intervention has been sought to bring about a peaceful solution to the prevalent problems that are inflicting miseries on the textile industry at large.
The domestic weaving industry and the export units in the country was anyways suffering immensely due to a series of existing crisis like rupee appreciation, labor shortage, inflation, rising cost of inputs and overheads. Towering yarn prices has done the remaining bit to create difficulties in sustaining the operations of the sector.
Besides, export of waste cotton has further brought about stagnation in the weaving industry pushing up the prices of finished products.
In an exclusive interview with Fibre2fashion, Mr P Gopalakrishnan, Secretary of Karur Textile Manufacturer Exporters' Association stated, “Some 300 exporters, 450 domestic manufacturers, 250 export product manufacturer and 300 dyeing factories are joining hands for supporting the strike.”
Mr Gopalakrishnan also divulged,“Since rupee appreciation and export of waste cotton was already hampering the weaving industry, excise duty was only an additional burden.”
Protestors are basically demanding a control of yarn prices by restricting export of waste cotton, exemption from service tax payable against agent commission in abroad, extension of term loans for 2 years, dual exchange policy, separate trade policy for textile industry and solving the problem of recurrent power cuts.”
Experts believe that about 30,000 laborers may be denied of their wages because of this shut down. In spite of this, another strike will be given force on May 16 in Tamil Nadu wherein all the textile industries and mills will come together for voicing their grievances and making common demands.
Government intervention has been sought to bring about a peaceful solution to the prevalent problems that are inflicting miseries on the textile industry at large.
Fibre2fashion News Desk - India
Popular News
Leave your Comments
Editor’s Pick
Kimberly Morgan and Rik Veltman
K3 Business Technology Group PLC
Daniela Brunner
Label - Guilia & Romeo
Salvatore Piccione
Label - Salvatore Piccione
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
