Nationwide transporters strike brought entire textile industry to a standstill: CITI chairman

Many units work on hand to mouth and this strike would lead to loss of livelihood for casual workers and even regular workers would have to do with lower wages in the absence of production incentives and overtime.

BCCL
CITI has appealed to the government and the striking associations to please find an amicable solution in the general interest of the country and its citizens.
The nationwide strike by All India Motor Transport Congress has brought the entire textile industry to a standstill.

Sanjay K Jain, chairman, CITI stated that the nationwide strike of transporters has today entered the sixth day and left the entire textile industry (a 130 billion dollar industry) impacting production, fund flow, employment, credibility and reputation.

Jain stated that the impact of the strike is so huge on the industry that it has forced the units to suspend their production in the absence of no supply of raw materials.


Many units work on hand to mouth and this strike would lead to loss of livelihood for casual workers and even regular workers would have to do with lower wages in the absence of production incentives and overtime.

Jain also stressed on the issue that if strike continues for another couple of days and government doesn’t intervene in the matter, he is afraid that industry may lose good amount of foreign exchange due to not fulfilling their export obligations.

The delay in shipments would lead to LCs expiring, air shipment costs and cancellation of orders plus loss of reputation/credibility with foreign buyers. He further pointed out that industry is feared to lose thousand of crores due to this strike.
ADVERTISEMENT

CITI has appealed to the government and the striking associations to please find an amicable solution in the general interest of the country and its citizens. Any delay will lead to a multiplication of problems with more units shutting down and orders being cancelled.
Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › News › Politics › Nationwide transporters strike brought entire textile industry to a standstill: CITI chairman
Text Size:AAA
Success
This article has been saved

*

+