Powerloom Weavers in Tamil Nadu have decided to observe one day fast on Friday while textile traders and producers would close down their shutters on Thursday in Erode to protest increasing cotton yarn price.
Talking to reporters after a meeting of power loom owners here on Monday, M. S. Mathivanan, Chairman, Tamil Nadu Powerloom Owners Federation said that the federation had taken the decision to protest against the cotton yarn price hike.
‘Every day the cost of cotton yarn is escalating and this is due to the allowing cotton yarn export and 7.67 per cent export subsidy granted for the cotton yarn export’, he said.
ADVERTISEMENT
Most of yarn producers were interested in sending their product to other countries and avail the subsidy granted, he said.
Meanwhile, Erode Handloom Cloth Merchants Association and Textile Producers of Erode have decided to close down their shutters and production units on Thursday in the district.
President of Erode Handloom Cloth Merchants Association R. S. Natarasa Mudaliar said consequent to increasing yarn price, they were finding it difficult to produce cloths.
ADVERTISEMENT
About 2500 textile shops and more than 1000 textile producing units in the district would remain close on April 8, he said.