Home / Knowledge / News / Textiles / Surat textile sector in eye of one more storm
Surat textile sector in eye of one more storm
04
Feb '11
Surat's textile industry is once again facing the unrest, as owing to the disagreement between the weavers and the traders regarding the terms of payment, the textile traders had declared that, if the weavers do not agree to resume their work on the basis of the old terms of payment, they will not take delivery of any grey fabric consignments sent by the weavers since February 4 onwards.

The row has halted the raw fabric trade of over 35 million metre that takes place between the textile weavers and the traders. Also, if the same situation persists, the textile units would be required to cease their operations for scarcity of raw material. Moreover, this discord would also affect the 2,000 three-wheeler owners engaged in the work of transporting raw materials from the weavers to the traders and then to the production units.

The weavers, under the old terms of payment provided a five percent cash discount to the traders on payments made within seven days. But now, under the new conditions of payment this discount has been reduced to two percent, as also a stipulation has been added to the effect that, the traders would be charged a two percent interest on the payments made after seven days.

Whereas the traders asserted that, when any changes need to be implemented in the terms of payment, a prior discussion should take place between both the parties, and claimed that, in the present case no such consultation took place, and the weavers directly on January 31 intimidated them regarding the new conditions for providing goods and the new payment norms thereof, which would become effective from February 1 onwards. The traders are not ready to accept this decision.

However, the weavers cite this as an egocentric approach adopted by some trading segments.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 26th Jun 2017

US initiates probe into PSF imported from 5 nations

The department of commerce of the US has initiated investigations for ...

Textiles | On 26th Jun 2017

USTR announces AGOA review for Rwanda, Tanzania & Uganda

The office of the US trade representative (USTR) has announced the...

Textiles | On 26th Jun 2017

Braskem invests in polypropylene production facility in US

The Board of Directors of Braskem, one of the largest producer of...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search