Save us: shuttleless loom cloth makers' appeal to govt.

Coimbatore, Jun 14 (UNI) The newly formed Shuttleless Loom Cloth Manufacturers Association of Tamil Nadu today urged to the state and Central governments' intervention to save the heavily invested industry.

Talking to newsmen here Assocation president K Murugasamy said the shuttleless weaving machine was the latest weaving technology and it was recommended by the Indian Government for technology upgradation to compete in the world market.

Around 10,000 imported weaving machines were installed in Tamil Nadu alone for the last five years at a cost of Rs 1500 crore. Over 90 per cent of the fabrics produced by these weaving machines were dyed, processed and exported as ready to use products.

The industry is now facing a huge crisis because of continuous decline in weaving charges. It was Rs 41 per metre two years back and it has slipped to Rs 21 per metre now, he said.

Though they had invested a huge amount by taking bank loans from the Technology Upgration Funds (TUF) scheme floated by the previous BJP led union government, they were now facing inadequate market.

UNI KS VV PAG1946