Approximately three-fourth of the 9 lakh powerlooms in Maharashtra’s Bhiwandi have decided to stop working from August 17-31, which has led to daily losses of about Rs. 150 crore. Currently, only 2.5 lakh powerlooms are running, that too for just 2-3 days a week. The fall in demand for yarn from big markets like China has led to production setbacks at the spinning mills in the region too.
The powerlooms have demanded a control on yarn prices and the permission to export cloth as the rising power tariff, labour charges and falling prices have made it difficult to yield profits. The strike is expected to boost prices by ensuring shortage of cloth in the market.
