The two-day general strike by the Tirupur knitting industry (May 16, 17) against the rise in yarn prices is expected to result in a trade loss of up to Rs.360-crore per day.
Tirupur: Knitwear manufacturers in Tirupur have announced a strike today (May 16, 17) to curb the rise in yarn prices.
In the last few months, the price of yarn has gone up by Rs.40 per kg and this month it has been selling at Rs.470 per kg.
There is a risk that the price of yarn will go up again in the coming months due to the unprecedented rise in the price of cotton. A two-day general strike was called on behalf of the knitting industry organizations and trade unions in Tirupur on the 16th and 17th, emphasizing various demands.
This was accepted by the knitting industry organizations from Coimbatore, Tirupur, Karur, Erode and Salem. In Tirupur alone, about 10,000 knitwear and its affiliated job workers are expected to join the general strike. It is estimated that this will result in a trade loss of up to 360-crore rupees per day.
Similarly, the Tirupur Coimbatore District Textile Manufacturers' Union has been on strike for two days, condemning the rise in yarn prices. It has been reported that 100-crore rupees worth of gada fabrics are already stagnant due to the inability to set a fixed price for the kata fabrics produced due to the rise in yarn prices.
It is noteworthy that a protest on behalf of the Communist Party of India in Tirupur today and a hunger strike on behalf of the Marxist Communist Party are scheduled for tomorrow.