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— While demand in the textile industry continues to grow, coal prices rise by 30 per cent, adding to the woes
Navgujarat Time, Surat:
Surat’s textile industry is beginning to see signs of a Diwali recovery, with the possibility of an increase in coal prices increasing. Coal prices have increased by 30 percent in just 3 weeks. Sami Diwali has increased the difficulty of these daing processors.
There was a depression in the cloth market of Surat for the last 8 months. Especially due to the flood situation in various states, the demand for textiles decreased. The market is slowly picking up after Janmashtami. Diwali orders are also being received now. As the demand in the market is increasing, this time Diwali has improved the happiness in the textile market. Coal prices have been hiked by up to 30 per cent in the last 3 weeks alone, while work in coal and processing mills is also ramping up. 1 ton of coal has been increased from 1500 to 3500 rupees. The increase in coal prices without any reason has led to the collapse of the Daeng processing units.
Jitendra Vakharia, president of South Gujarat Textile Processors Association, said that the price has been increased again as the demand for cloth has started to increase in the market. An increase in coal prices will affect the stagnant industry. Coal trading companies have hiked prices without any reason.