Surat textile trade suffering loss up to 30 percent this marriage season as sale of saris and dress materials has gone down significantly due to demonetization. Surat with 165 textile markets, mostly spread around Ring Road, has 65,000 shops and according to an estimate average business per day is Rs 100 crore.
Manoj Agarwal, president of Federation of Surat Textile Traders Association (FOSTTA) said that there is no sale on the retail front. Garments like dress material and saris are last on the priority list. Those who have marriages in their families also spend minimum on saris.
The trade during marriage season this year nearly halved 50 percent of the normal as there are questions over availability of cash.
Kamal Vijay Tulsiyan, a textile processor and president of Pandesara Association said that normally, Surat produces 4 to 5 lakh metres of cloth everyday, but these days production is only 50 percent as no one buying in bulk and storing in godowns these days.
In fact, traders from across the country who are coming to buy saris and dress materials to Surat are buying only as per their daily requirements and have stop bulk purchases this year.
Also traders from south India, who account for more than 25% of sales, too are not buying the material. Traders from south are buying less since Diwali due to cash crunch and the same is the case with traders from Delhi and Punjab who have heavy demand for Surat dress material. Their orders have also gone down by 50 percent.
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