Textile industry may lay-off 5-6 lakh employees
7 Nov 2008, 1852 hrs IST, PTI
The textile industry, which has warned the government of 5-6 lakh
lay-offs due to the global downturn, today said the PMO "totally
Right approach for different stages of career
ignored" its interests and the largest employment-generating sector after
agriculture was feeling "let down".
The Northern India Textile Mills Association (NITMA) said that none of
its representatives was invited to the meeting convened by Prime Minister
Manmohan Singh on November 3 to discuss the state of the economy.
"The Prime Minister had appealed to industry to avoid large-scale layoffs
in the wake of the global economic crisis ... The textile industry was totally
ignored by the Prime Minister's Office. This is the industry which is going to
lay off maximum jobs due to increased maximum cotton price and cancellation of
orders by the US due to recession," NITMA President Sunil Jain said.
Top industry leaders like Mukesh Ambani and Sunil Bharti Mittal and the
heads of three apex chambers - the CII, the FICCI, Assocham - attended the
meeting convened by the Prime Minister.
Jain said the spinning sector in particular is in a difficult situation
because of increased costs of inputs, mainly cotton.
The industry, directly and indirectly, employs about 35 million people.
Jain said the export sops have been withdrawn in India, while countries
like China and Pakistan have substantially increased incentives for their
exporters.
Garment exporters have reported a 30-35 per cent drop in volume in the
July-September quarter.
The Confederation of Indian Textile Industry (CITI) has estimated 6-7
lakh people are facing job threats because of a slump in export demand.
"Some cause happiness wherever they go; others whenever they go."
- Oscar Wilde
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