Textile industry workers lose jobs as rupee hits hard
Times of India, India
BANGALORE: This Dusshera, garment factory workers in Tirupur are getting a generous fortnight off. All these years, factory owners frowned upon any leave more than the standard two-three days. But there’s not much reason to celebrate this Diwali. The leave is an indication of the slump in demand at the garment factories that drive the economy of this town.
With the appreciation of the rupee showing no signs of slowing down, the textile industry has been badly hit. “This is the first time that something like this is happening,” says R Sivaram, executive director of Tirupur-based Royal Classic Mills. Read more about Textile industry workers lose jobs as rupee hits hard …