Tirupur (Tamil Nadu), Nov.20 (ANI): Several textile industries and weaving units protested against the soaring prices of cotton by observing a day-long strike in Tamil Nadu's Tirupur city, demanding the government to put a ban on cotton yarn exports.
Reportedly the price of raw cotton has increased by 120 percent and cotton yarn price by 90 percent in the past 12 months. Because of acute hike in yarn price and raw cotton price the textile garment industry is now facing serious crises.
Over 60 lakhs workers across the nation participated in the strike called by various textile industries on Friday.
The workers said the prices have led to 20 percent drop in the production leading to job losses for thousands.
"Today's agitation is to draw the Government attention to stop the yarn export and also cotton exports. Today about 60 lakhs people from all over India are participating in the agitation and today one lakh people are hunger fast in Tirupur," said R Gopala Krishnan, leading garment exporter.
Federation of Indian Exports Organisation (FIEO) chairman and Tirupur Exporters Association President A. Sakthivel said follow the example of China and ban export of raw material.
"The same situation prevails in China. They also have shortage of cotton. But that the Chinese government put a blanket bank for the export of raw material, cotton and the cotton yarn. They have permitted only the shipping out of finished products," said Sakthivel.
"We are expecting from the Government to give more priority to the finished garments which will give millions of people job work and India can earn much higher level of foreign exchange by rationalising the cotton and the yarn exports," he added. By Jehovah (ANI)