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Today Date : Friday, April 19, 2024

Erode textile traders  bandh hit Rs 100 cr business

Erode textile traders bandh hit Rs 100 cr business

 Over 10 thousand textile shops joined 2 day  bandh call of Erode Cloth Merchants association starting from Monday in protest against steep rise in cotton and yarn prices.   About one lakh workers joined the strike and over Rs100 cr worth business was hit on first day. 

The association president Kalaiselvan said ''For the last 18 months we have been holding various protests condemning the rise in yarn and cotton prices.  As a result, a few days ago, the central government suspended the import duty on cotton -11 per cent till September 30. 

But ,it takes 45 or 60 days to import cotton.   The price of 356 kg bale cotton has gone up from Rs 43,000 to Rs 1 lakh.  Synthetic yarn and garments are manufactured in the states of Gujarat and Maharashtra in northern India.  
So the impact is unknown there.  But, Tamil Nadu is a leader in the production of cotton yarn and garments .So the impact is greater here. The union textiles minister has said he will hold talks with the stakeholders on the issue in Delhi tomorrow. 
Normally, Cotton Corporation of India buy cotton from traders and sell it to mills.  But it offers it to cotton traders. 

They raise the price of cotton many times over online trade.  There is also hoarding for further price hike. Therefore the Cotton Corporation of India should supply cotton directly to the spinning mills.  Two days ago, the central government banned the export of wheat due to high prices. 

This is because food items have been brought under the Essential Commodities Act.  
Similarly, if cotton is brought under EC Act, the price of cotton and yarn can be controlled. Statistics are not accurate on the amount of cotton, yarn produced and exported in the country. 

That is why the problem has arisen at present.  It is said that there is a shortage of 40 lakh bales of yarn in the country at present. The Central Government should rectify this.  Twenty-five unions related to textile sector in Tamil Nadu have taken part in the two - day strike. In Erode, dyeing, bleaching, printing units,  folding, packing workers also joined the strike. 

Therefore, the Central Government should immediately intervene in this matter.  Association secretary Chidambara Saravanan was present.