Panipat’s yarn industrialist to shutdown units for 2 days in week due to poor demand

ENA State 2023-06-28 11:45:00 Panipat, June 28 (KNN) Panipats yarn industrialists have decided to shut their industries for two days in a week from July 1. Reeling under crisis, the Panipat yarn industry witnessed over 50 per cent decline in production of recycled yarn in the past two months while the rate of yarn fell by 20 per cent due to the shrink in demand of handloom products in domestic and global market. <a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a> As per reports, for the past two months, the industrialist in the city have been running their industries in a single shift for the past. The decision regarding the two day shutdown was taken at the general house meeting of the Northern Indian Spinners Association. Pritam Singh Sachdeva, President of the society presided over the meeting. During the meeting, associations members raised their concerns over the present scenario of the domestic as well as the global market. Panipat is the hub of recycling industry, resulting in production of yarn out of discarded clothes. This yarn is being used for making blankets, shawls, curtains, bath mats, foot mats, bedsheets, bed covers, carpets, kitchen items, cushion covers, and other handloom products. The final products are then sold in the domestic market and exported in the global market, especially in the USA and European countries. (KNN Bureau) 33872 https://knnindia.co.in/news/newsdetails/state/panipats-yarn-industrialist-to-shutdown-units-for-2-days-in-week-due-to-poor-demand 2023-06-28 11:45:00 knnindia.co.in Panipat’s yarn industrialist to shutdown units for 2 days in week due to poor demand