STOCK MARKET BSE NSE

Lockdown takes sheen off Arni silk sarees, piled up stocks leave manufacturers in tears

Thousands of labourers involved in weaving, dyeing yarn, designing and other related works in the silk town have been rendered jobless due to the lockdown.

Published: 30th May 2020 07:09 PM  |   Last Updated: 30th May 2020 07:09 PM   |  A+A-

A closed power loom unit in Arni (Photo | EPS)

Express News Service

THIRUVANNAMALAI: The rattling sound of the looms can't be heard on the streets of Arni and its surroundings now. Hundreds of looms, busy with producing the popular Arni silk sarees, have gone silent ever since the lockdown to fight the COVID-19 pandemic was enforced.

Since the manufacturers and traders find no clients willing to take the consignments, the sarees have piled up for more than two months now leaving them in tears.

"The stock of silk sarees must be around 50,000 in Arni area. We don't find clients placing orders for purchase even after the lockdown was eased partially," says DH Gururaja Rao, president of Arni Silk Cloth Merchants Association.

Thousands of labourers involved in weaving, dyeing yarn, designing and other related works in the silk town have been rendered jobless due to the lockdown as 2000 looms have stopped running in Arni and surrounding places such as Sevoor, Mullipattu, Munukupattu, Sirumani, Devikapuram and Irumbedu in Tiruvannamalai district.

Arni silk sarees, both traditional and modern designs, would never fail to make it to the shelves of textile shops in all the major cities in Tamil Nadu and neigbouring states. Clients in Delhi, Mumbai, and Kolkata also purchase in bulk from Arni.

Even though the lockdown restrictions were partially eased, major textile shops in cities including Chennai can't resume business. This has left the silk saree manufacturers in agony and despair.

"When the stocks are not cleared, the sarees will begin to lose the sheen. As a consequence, the clients will bargain for lower price when the business resumes," rues a weaver.

Pending bills are also not being cleared by clients. So, the manufacturers are finding it difficult to repay loans availed from banks and non-banking financial institutions (NBFCs).

They have been clamouring for a financial package to bail out the manufacturers and traders. "We are expecting the Centre to provide financial support. The government should consider giving us back 10 per cent of the income tax we have paid over the last 10 years," demands Gururaja Rao.

He explains: "The government need not spend a lot. We want to get back a small portion of the income tax which we have paid so that it will free us from the debt trap."

Another trader noted that many of the manufacturers and traders in Arni have availed bank loans by pledging properties such as houses. Interest waiver is another demand the silk industry has put forth before the Centre. They say credit availability will not help them to shake off the debt trap but compound their financial liability.

More from Tamil Nadu.

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp