KARUR: The Karur Textile Manufacturers and Exporters Association (KTMEA) has expressed concern over the severe crisis confronting the textile sector owing to a sharp rise in raw material prices and an acute labour shortage, attributing the situation to the ongoing West Asia war and geopolitical tensions.
At a recent meeting of the association held in Karur, industry representatives discussed the mounting challenges faced by the textile sector. Addressing reporters after the meeting, KTMEA president P Gopalakrishnan said the prices of raw materials required for textile manufacturing had risen by 30% to 60% over the past few months.
He said the ongoing war and geopolitical tensions involving the US, Israel and Iran had led to a steep increase in the prices of several essential materials used in textile manufacturing, including petroleum-based products such as polyester, chemicals used in dyeing units, polythene and packing materials.
“Delays in international shipping and shortages in imported goods have also significantly increased the cost of dyeing, printing and other job-work processes,” he said.
Industry leaders further stated that the 30% to 40% increase in cotton yarn prices in India had come as a major setback to the textile sector. Expressing discontent, Gopalakrishnan said the union government had failed to take adequate measures to regulate cotton yarn prices.
Speaking about the labour shortage, KTMEA joint secretary A Sethupathi said the issue had emerged as one of the biggest challenges for the sector. He said many migrant workers had returned to their native places owing to elections and other reasons, while participation from local workers had also declined considerably.
Stating that the textile industry in Karur serves as a livelihood source for thousands of workers, the association urged both the state and the centre to announce immediate relief measures.
The association also demanded steps to ensure stability in raw material prices, besides interest subsidies and financial assistance for export companies. It further called for special schemes to address the prevailing labour shortage.