Vivers of Surat's Sayan Zone decide to extend Diwali vacation by 15 days

The textile industry of Surat, considered the textile capital of the country, is currently facing clouds of a severe slowdown. Due to a complete lack of buying or demand in the market and massive stocks of finished goods, the vivers of Surat's Sayan Zone held an urgent and extremely important deliberation meeting. As per the collective decision taken in this meeting, all vivers of the Sayan Zone have now taken the historic decision to extend the Diwali vacation by 15 days.

According to a report by Sandesh, the main reason behind this decision is the decline in fabric demand in the market. Since there is no demand in the market against fabric production, lakhs of metres of grey fabric are accumulating with manufacturers. As a large quantity of finished fabric accumulates in the market, its prices are also eroding. To tackle this situation, it has become inevitable to put a brake on production so that the balance of demand and supply in the market is maintained.

Vivers are currently being crushed under a double blow. On one hand, there is an overflow of finished goods in the market, while on the other hand, the prices of yarn, being the raw material, are constantly increasing in global and local markets. As reasonable prices for finished grey fabric are not being received, running factories is proving to be a loss-making venture. This decision to reduce production has been taken to stabilize this delicate economic situation.

Due to this decision to increase the Diwali vacation, approximately 60 crore metres of fabric production will decrease from the pipeline in the next 15 days. It is hoped that by reducing production, further accumulation of goods in the market will be prevented. Manufacturers have deemed it necessary to maintain control over production to survive economically.

In this report, the subject of the power crisis was also mentioned by the vivers' leaders, although full details regarding it have not been provided.