Powerloom owners in Coimbatore, Tiruppur stop production

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)

ALCHEMPro News Desk – India