Hundreds of textile and allied units in Karur district have planned to down shutters on September 24 and 25 to highlight their demand for a ban on cotton, waste cotton and yarn export that is hurting the industry immensely.
Briefing the media here after wide ranging confabulations industry leaders including Karur Textile Forum president M. Sivakkannan and Karur Textile Manufacturer Exporters' Association president M. Nachimuthu said that unbridled export of cotton, waste cotton and yarn had made the price of cotton yarn skyrocket to unmanageable proportions over the past few months. Increase in yarn price had upset the calculations of the textile exporters who were operating on a very competitive margin in the highly competitive international market. Their main demands were that the Central Government should intervene and rein in the spiralling yarn price by reducing price by at least 30 per cent, ensure uninterrupted availability of yarn to domestic textile industrialists for export purposes and clamp a complete ban on export of cotton, waste cotton and yarn.