Latest News | Two-day Strike by Knitwear Industry in Tirupur Begins over High Yarn Prices

Coimbatore, Jan 17 (PTI) The knitwear industry in nearby Tirupur began a two-day strike on Monday in protest against the high yarn prices prevailing for the last 15 months and to bring it to the attention of the Centre.

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Almost all industries related to readymade garment manufacturing like knitting, dyeing and printing, also downed their shutters in support of the strike led by Tirupur Exporters' Association (TEA).

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TEA sources said the increase in yarn rates had resulted in export units not being able to get orders for increased prices and also supply on prices quoted earlier.

There will be a minimum production loss of Rs 350 crore for two days, they said, adding that the increased yarn prices will result in the orders converted to other foreign countries and competitors.

Meanwhile, the strike by over two lakh job work power loom units in Coimbatore and Tirupur districts entered its ninth day on Monday, seeking immediate implementation of the order to revise the wages issued more than a month ago. There was a production loss of Rs 60 crore per day due to the strike.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)