“This all sums up as shrunk profits for spinners as well as fabric makers. Though spinners have increased prices, it is not in proportion to the cost and therefore there is no point in stocking surplus production. So, they are cutting down output”, he noted.
“In the same way, the weaving sector too is reducing production as they too are facing losses as margins have fallen drastically”, he summed up by saying.
Mr Sushil Kejriwal of Ahmedabad-based Ambica Taptex said that, his business was not affected much, as he is a trader and not a manufacturer. However, as an afterthought, he added by saying, “Spinners and weavers have been very much affected”.
Fibre2fashion News Desk - India
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