Unfinished Stocks Pile Up As Processors Shut Shop

The roll-out of Cenvat and value added tax (VAT) may be delayed but it has already cast its shadow on the textile industry.

All the unorganised processors in Surat, Bhiwandi and other centres around the country are currently on strike against the introduction of VAT for the industry since April 1.

While the strike has not attracted much media attention, it has had a negative impact on the organised segment of the industry.

Stock levels in the organised sector has gone up sharply in the month of March as few processors lifted material for processing.