TIRUPPUR: Tiruppur Exporters Association (TEA) has announced that garment manufacturing units would down shutters on January 17 and 18 to protest the rise in yarn prices.
Speaking to mediapersons, Tiruppur Exporters Association (TEA) President Raja M Shanmugam said, “For the last two months, price of yarn has increased by Rs 80 per kilogram.
Currently, the prices are hovering around Rs 350 and above. When we calculate the increase in the price of yarn for one year, the price has zoomed over 70 per cent. It is sad to notice that cotton mills continued to export in large volumes to China and Bangladesh, which compete with Indian garment industry. To register our protest, we have decided to close our factories for January 17 and 18.”