Handloom manufacturers here have warned of an indefinite strike, seeking a ban on the export of cotton and yarn. According to Mr G. Subash Chandra Bose, President of Sellur Cloth Manufacturers Association, the volatility in prices of raw materials is impairing the sector. The price of a 5 kg ball of yarn has risen to Rs 710 from Rs 560 in the last couple of months. Export of cotton is creating a shortage and the majority of the exports has been to countries such as China and Bangladesh, he said. The Association Secretary, Mr M. Balasubramanian, demanded that cloth manufacturers be given a subsidy of Rs 20 for one kg of cotton and the 4 per cent sales tax be scrapped.
Source : Business Line