Bandh results in Rs 200 crore loss in a day

SURAT: Thursday's bandh caused losses to the tune of over Rs 200 crore to the textile sector in the city.

The daily turnover of the textile traders, operating from 165 textile markets on Ring Road, Salabatpura and Sahara Darwaja is pegged at Rs 125 crore, whereas the daily production of synthetic fabric is pegged at four crore metres valued at over Rs 30 crore per day.

Meanwhile, around 70 per cent of powerloom weaving units also joined the bandh call given by the textile traders. The powerloom industrial estates at Sachin, Hojiwala, Pandesara and Puna remained shut.

Sachin Weavers Association president Mahendra Ramoliya said, "The weavers will have to pay 18 per cent GST on yarn and 18 per cent on the weaving job work. This way, the fabric manufactured by the weavers will be costlier by almost Rs 20 per kilogram. The decentralized units will have to shut down as the composite units will be benefited."

VSS will organize a public meeting at Goodluck Market on Ring Road on Friday to announce more such programmes. Also, the textile markets will be carrying out 'Ramdhun' from 4 pm to 6 pm to protest the central government's GST move on textile sector.

Source: http://timesofindia.indiatimes.com/city/surat/bandh-results-in-rs-200cr-loss-in-a-day/articleshow/59166605.cms