Farmer Protests Push Punjab Textile Trade To Sharp Decline
(MENAFN- KNN India)
Surat, Jan 1 (KNN) The ongoing farmers' protests in Punjab have dealt a significant blow to the region's textile industry, with traders reporting a substantial decrease in business activity and mounting concerns over supply chain disruptions.
The movement of textile products from Surat to Punjab has been severely impacted, with daily supply values dropping from Rs 50 crore to approximately half that amount as bulk stockists remain cautious about placing new orders, reported TOI.
The disruption has particularly affected two crucial trade routes through Ambala and New Delhi, which serve as primary arteries for textile distribution to Punjab's local markets.
Ladies' suits and dress materials, traditionally popular items from Surat due to their competitive pricing and diverse selection, have seen a marked decline in orders.
Industry insiders paint a concerning picture of the situation's impact. Pappi Seth, a prominent supplier of textile products to northern states, notes the immediate effect on market dynamics, citing a complete halt in new orders.
The sentiment is echoed by Champalal Bothra, Chairman, Textile Committee, Confederation of All India Traders (CAIT), who highlights additional challenges facing the sector.
Bothra points out that the typically slow post-wedding season is being further complicated by delayed payments for previously delivered merchandise and a concerning lag in orders for post-winter products.
The textile community's apprehension is heightened by memories of similar disruptions during past protests in Punjab.
Should the current demonstrations persist for several more weeks, traders anticipate more severe economic consequences for the industry, potentially leading to longer-term market instability and continued financial uncertainty.
(KNN Bureau)
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