The textile traders of Surat's wholesale market to make Surti fabrics more cost-effective for the end consumers across the country have urged the transporters and textile processors to reduce their charges In order to capitalize on dwindling oil and polyester yarn prices.
They have been facing a tough time for the past few month with the supply of fabrics in value terms decreasing by almost 30 percent due to dwindling demand from the key markets such as Delhi, Mumbai, Kolkata, Punjab, Chandigarh, Chennai etc.
A meeting in this connection was organized by Federation of Surat Textile Traders Association (FOSTTA) on Thursday to discuss the impact of oil prices on the Indian economy and the participation of the transporters and textile processors in reducing the prices in the range of 10 per cent to 15 per cent for the benefit of textile trade as a whole.
FOSTTA has written to the transporters association as well as South Gujarat Textile Processors Association (SGTPA) to reduce their charges.
FOSTTA president Sanwar Prasad Budhia said that following the phenomenal decrease in oil prices, the prices of chemicals, yarn and diesel too have decreased in the last one month. Since the manufacturing and transportation costs have come down drastically, the processors and transporters have been asked to reduce their charges. This will reflect in the prices, at which the end consumers purchase the Surti fabrics.
There are over 150 textile markets in the city housing more than 65,000 textile shops. The daily turnover of the finished and unfinished fabrics is pegged at Rs 100 crore.
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