The Hindu Business Line : Tirupur bandh against yarn price rise

The bandh was jointly called by various political parties and all the knitwear industrial associations to protest the "abnormal" rise in cotton yarn prices. The Tirupur knitwear industry representatives have charged that the rising cotton yarn prices have severely affected production meant for both exports and the domestic market.

Leading members of the Tirupur knitwear industrial associations — the South India Hosiery Manufacturers Association (SIHMA), the Tirupur Exporters Association, the Tirupur Export Knitwear Manufacturers Association (TEKMA) and the Knit Cloth Manufacturers Association — sat on a day-long hunger strike near the Central Bus Stand here to "draw the attention" of the Central and the State Governments to the plight of the knitwear industry and seek their intervention to tame the yarn prices. They alleged that in the last one month alone, hosiery cotton yarn prices rose by Rs 1,500 per 100 kg bundle.The fasting knitwear trade representatives blamed the "unprecedented" increase in cotton yarn prices on the "unrestrained" export of cotton and cotton yarn allowed this year. The huge quantities of raw cotton and cotton yarn that were permitted to be shipped to China would destabilise the country's textile exports in terms of export realisation/value addition, as in many textile products China has been the direct competitor in the international market.

The Government should quickly assess the raw material needs of the domestic textile industry and also the damage the export of raw cotton and cotton yarn exports to China would cause, Mr Mohan P. Kandasamy, President of the Federation of Hosiery Manufacturers Associations of India, said. Using the raw materials imported from India, Chinese textile exports would ruin India's value-addition to its textile exports, he maintained.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Schemes for unemployed in AP

Kunhikrishnan wins award for `Narrowcasting'

Grid Leadership conferred to Dharni P. Sinha

Farm income surplus may top Rs 40,000 cr — Foodgrains output seen at 108.45 mt

`India must broaden trade ties with Asean nations'

Nathula `Pass'port to better trade prospects with China

Cuban Minister invites Indian investors

Chennai likely to be AIDS vaccine trial site

Nationwide network for trauma care mooted

Kalam to open dentistry meet

IOC chief moots price stability mechanism