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Powerloom owners in Coimbatore, Tiruppur stop production
Mar '17
Powerloom owners in Coimbatore and in the Tiruppur district have stopped production in their respective units to protest against fluctuating yarn prices that are affecting their profit margins. The strike will affect business worth Rs 200 crore and production of about 85 lakh metres per day, delaying domestic as well as export business.

The increasing yarn prices have affected profit margins of over 2 lakh powerloom units in Coimbatore and Tiruppur districts, said Velusamy, secretary, Powerloom Job Workers Association. He also said that about 5 lakh workers will be affected due to the strike.

Powerloom owners who take orders from cloth traders and job workers have also called on the government to reduce VAT on yarn to 2 per cent from 5 per cent in order to reduce yarn prices, according to media reports.

The owners have also urged the government to ban export of waste cotton that could help decrease yarn prices.

Velusamy also said that a delegation has already been sent to Delhi to discuss the issues with concerned ministries. (KD)

Fibre2Fashion News Desk – India

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