Protesting against price rise Tirupur garment industry stops production for a day

Hyderabad: Tirupur garment industry association on Monday voluntarily stopped the production and closed textile manufacturing units for a day to protest against the abnormal rise in prices of yarn.

The protest is to show solidarity and give moral support for saving the industry against the abnormal price hike of the yarn. All the association members have decided to participate in a rally as part of the protest. The shortage of yarn in the domestic market has resulted in the rising of prices in the hosiery and knitwear industry.

"We have been facing this price hike issue since last year which resulted in an increase in our product prices ranging from 1-1.5 per cent to 4 per cent. We have written to the Finance Minister and Union Textile Minister to look into the steep rise in cotton yarn prices which is impacting most of the MSME's.

Many producers are facing issues due to raw material shortage and are forced to halt their operations if this continues," said Vinod Kumar Gupta, Managing Director, Dollar Industries. This voluntary closure is an effort to unanimously raise our voices in support of the whole industry on the abnormal price hike of the yarn which is putting pressure on not only businesses but also on the consumers, he added.