Textile traders and weavers have decided to implement a stern system to curb the increasing cases of defaults in the country’s Man-made Fabric (MMF) industry. Federation of Surat Textile Traders Association (FOSTTA) recently had a meeting of traders, brokers and weavers associations to discuss measures to control such cases. As a precautionary measure, it was decided that if a trader in the textile market wants to buy unfinished fabrics from weavers, he will have to fill in his phone number, address proof and other identity details in a form along with a photograph. According to Federation of Gujarat Weavers Association President Ashok Jirawala, the firm system will prevent defaults in the markets. It has become necessary to instil confidence among the weavers after defaulters worth Rs. 80 crore have been reported in the past one month.
