Tuesday, July 30, 2013

Hosiery Inc\'s fate hangs by thread

LUDHIANA:Jul 30, 2013(7STARNEWS) The strike of yarn dealers in the city over e-trip policy of the government has broken the backbone of the hosiery industry, which is reeling under heavy production losses ever since the protest began.



The industry representatives felt that if the strike of the yarn dealers continues, the hosiery industry would be on a verge of a collapse in the absence of yarn supply. \"Different associations of yarn dealers in the city are on a strike against the notification of the e-trip policy of the government. Supply of yarn has taken a hit. Except some few big industrial units in the city, most of the hosiery units are barely managing,\" said Vishal Bhutani of Pratham Yarns.



Rajiv Jain, who is the president of the Fancy Yarn Dealers Association, said, \"We have been forced to go on a strike as the government has decided to implement a faulty policy. We started the strike on July 23. Now we will meet deputy chief minister Sukhbir Badal on Tuesday and we will decide the next course of action along with the other industry representatives after the meeting.\"



Talking about the losses to the hosiery industry, Vinod Thapar, chairman of Ludhiana Knitwear Club, said the strike of the yarn dealers in the city has badly hit the hosiery industry, which is also against the e-trip policy of the government.
News From: http://www.7StarNews.com

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