Summary:
Surat: Fall in international crude oil prices has given a reason to ailing power loom weaving sector to cheer. It is believed that the yarn prices will further reduce due to fall in international crude oil prices.” In the last fortnight, yarn manufacturers have reduced polyester yarn prices by almost Rs15 per kilogram giving a major relief to weaving sector.Industry sources said reduction in polyester yarn prices has been witnessed for the first time post-Goods and Services Tax’s implementation. There is four-month long marriage season when the textile trade will rebound due to decrease in the yarn prices. Most of the power loom units will reopen on November 25.”South Gujarat Yarn Dealers Association president Lalit Chandak said, “It is a positive sign for textile sector..