Garment Exporters on course of strike against yarn price from May 16

Tiruppur, May 3 (KNN) Garment exporters have announced to go on strike from May 16 against the rise in yarn prices which they expected to fall after the Union government cut duty on imports, they suffered a rude shock as yarn prices went up by rupees 40 per kilogram across all categories. 

Tiruppur Exporters Association (TEA) president Raja N Shanmugam informed KNN Bureau that they have appealed to the Union government to ban cotton and yarn exports immediately till the time prices stabilize.

Shanmugam said, “Export of cotton and yarn should be banned immediately to bring in required supply support to down line industries specially MSMEs”, he added.

TEA has not confirmed yet about their participation in the strike but today the association will conduct a meeting to raise the issue with the concerned Ministries. (KNN/AT)