Tex­tile cri­sis wors­en­ing

The Hindu - - OPED -

The cri­sis in the tex­tile in­dus­try is wors­en­ing and mil­lown­ers are re­ported to be con­sid­er­ing a pro­posal to cur­tail pro­duc­tion in their units in the near fu­ture. The mil­lown­ers will be meet­ing here [Coim­bat­ore] on April 24 to take a de­ci­sion. Mr. K. Sun­daram, M.P. and Chair­man of the South­ern In­dia Mil­lown­ers’ As­so­ci­a­tion said here to-day [April 16] nearly 15 mills were not even able to pay wages to the work­ers. He told me that since the be­gin­ning of this month the dis­tress sale of yarn had taken a turn for the worse in that the mills were not able to re­alise even the cost price and had to sell their stocks at a loss to meet other com­mit­ments. Mr. Sun­daram who met the Sec­re­tary of the Union Com­merce and In­dus­tries Min­istry re­cently said that though the Cen­tre was think­ing of cer­tain mea­sures to af­ford re­lief to the in­dus­try and the con­sumer with­out at the same time los­ing its rev­enue, they were not likely to be of any help. A HUN­DRED YEARS AGO APRIL 17, 1918.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.