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21 Feb 2024, Edition - 3144, Wednesday

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Coimbatore

SIMA and PDEXCIL to study fabric market behaviour

Covai Post Network

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The Southern India Mills’ Association (SIMA) and Power loom Development and Export Promotion Council (PDEXCIL) would soon be studying the fabric market behavior and send feedback to the spinning and power loom sectors and the government.

According to a release, SIMA has stated that the industry is facing a severe recession in the last 18 months due to the glut in the global market and the higher duties imposed in Indian Textile products when compared to other textile manufacturing countries.

The release has stated that the mass closure of dying units in Erode and other parts of Tamil Nadu has forced the weavers in TN to process the fabric in upcountry which has resulted in high transport cost this increasing lead time and making them noncompetitive.

Thereby, the two associations have come forward to study the sector and help it in all possible ways and the organizations met together to discuss about the weaving yarn market and fabric market condition and also devise a methodology to study the market behavior. Members of both the organizations and power loom weavers from major clusters of Tamil Nadu participated in the meeting.

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