Tiruppur, Coimbatore powerlooms to remain shut for 14 days as yarn prices remain unstable

With unstable yarn prices and high power tariffs taking a toll on their products, the Tiruppur and Coimbatore district textile and fibre manufacturers have decided to stop their production which would lead to the shutting down of the power looms for the next 14 days.

The textile manufacturers are of the opinion that in addition to the unstable yarn prices, the high power tariff fixed by Tangedco in September has also led to the high cost of grey fibre and textiles. Another factor, according to the manufacturers that affect the industry is poor procurement of textiles from North Indian states.

According to the textile manufacturing association leaders, over 300 large textile manufacturing and weaving units in Tiruppur and Coimbatore will be shut down. Leader of the textile manufacturers Subramanian M. told IANS, "As of now we have decided to shut down the power looms for a period of two weeks. We will meet in between and decide whether there is any requirement for change and decide."

CITU leader and Powerloom Weaving Unit Workers association general secretary (Tiruppur), R. Muthuswamy, said that shutting down power looms would affect the workers who are mostly daily wage earners in the range of Rs 500- 700. He said that this would lead to an exodus of youth from the industry.

It is to be seen whether the state textile department intervenes in the matter and settles the issues raised by the industry. Sources in the industry told IANS that the state textiles department has already forwarded the complaints from the textile industry regarding the hike in power tariff and how it was affecting production.

SEE ALSO:

Can diabetic drugs help you lose weight? Here’s what experts say

Rupee slips 6 paise to 81.77 against US dollar

With no signs yet of inflation cooling, experts predict more rate hikes