Textile workers affiliated to Centre of Indian Trade Unions (CITU) has asked the Central Government to impose a ban on online trading of cotton for bringing down the yarn prices in the domestic market.
To highlight the demand, they staged a demonstration in front of the Corporation office here on Monday.
According to them, steep rise in cotton yarn prices over the last eight months has plunged the textile industry into despair.
“Uncontrolled rise of yarn prices have already made the apparels produced from Tirupur knitwear cluster costlier than ever before and if the situation continues, it will affect the competitiveness of the cluster in the global market,” they pointed out.
The CITU members fear that any further reduction in the market share of Tirupur-made products in the United States and European countries would have a cascading effect on the livelihood opportunities of lakhs of workforce dependent on the cluster.