The textile units in Karur are facing tough times due to extremely high yarn prices and rupee appreciation. Unable to bear any further, several mills have pulled their shutter down, leaving nearly 20,000 workers unemployed.
In an exclusive interview with Fibre2fashion, Mr P Gopalakrishnan, Secretary, Karur Textile Manufacturer Exporters' Association divulged, “Yarn prices have risen due to unavailability of waste cotton and less number of mills producing required course count which is needed by the local manufacturers. “
The Secretary further stated, “The textile units are facing difficulties as they cannot execute the orders already booked with overseas buyers and are even unable to take new projects because of price hike.”
The textile manufacturers' only ray of hope now remains with the Government. They are looking forward for the officials to intervene in the matter that is severely affecting the industry.
Fibre2fashion News Desk - India
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