Chairman of Federation of Indian Art Silk Weaving Industry (
FIASWI) Arun Jariwala said that the fibre prices were increased last year when the crude oil was $70 per barrel and the prices have continued to rise when the barrel is at $100.
A memorandum put forward by the Federation of Indian Art Silk Weaving Industry (
FIASWI) to the Ministry of Textiles on this issue revealed that the unprecedented rise in the prices of cotton has led to a distortion in the demand for synthetic yarn by the textile manufactur-ers.
Arun Jariwala, Chairman of Federation of Indian Art Silk Weaving Industry (
FIASWI), said that polyester yarn is the main raw material for polyester fabrics like sari, dress material etc.