Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

Transport strike causes losses to the textile industry

The ongoing indefinite transporters strike has resulted in a staggering loss of upto 1,500 crore for the textile industry. The knitwear export has been declining since October 2017, and in the second half of 2017-18, the decline was to the tune of 21 per cent as compared to the corresponding period in 2016-17. In the first quarter of the current financial year also, the export has declined by 21 per cent as compared to the same period in 2017-18.

The strike has affected the entire textile industry hitting its production, fund flow, employment, credibility and reputation. It has forced the units to suspend their production in the absence of no supply of raw material. Many units work on the basis of just-in-time arrival of raw material, and this strike would lead to loss of livelihood for lakhs of casual workers. Even regular workers would have to do with lower wages in the absence of production incentives and overtime.

 

 
LATEST TOP NEWS
 


 
MOST POPULAR NEWS
VF Logo