"The increase in yarn prices for the last few months has seriously affected the profit margin of powerloom owners, who have a total of over two lakh powerlooms in both districts," Velusamy, Secretary of the Powerloom Job Workers Association, said.
The strike will result in loss of business worth Rs 200 crore and production loss of 85 lakh metres daily, affecting both domestic and export business, besides five lakh workers, he said.
They also sought a ban on export of waste cotton, which could help further decrease in prices.
A delegation is already in Delhi to discuss the issue with the ministries concerned, Velusamy said.
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