Surat: Rising yarn prices, payment stress and fears of credit defaults ahead of Diwali have prompted thousands of Surat weavers to convene this week, with industry leaders calling for collective action to address mounting business concerns.Textile weaving unit owners in the country’s largest man-made fabric hub have called a meeting on Wednesday to discuss issues affecting the sector. Despite the traditionally busy period leading up to Diwali, weavers say high yarn prices, weak demand, oversupply and payment-related concerns are placing pressure on businesses.Industry representatives said the prevailing market conditions have also created opportunities for fraudulent operators and brokers, who are becoming active under the pretext of festival purchases. Weavers fear goods supplied on credit could result in defaults around Diwali, exposing them to significant losses.Owners and representatives from the powerloom, rapier jacquard, waterjet, airjet and knitting segments are expected to participate in the discussions. Around 7,000 weavers are expected to attend “Weavers Mahamanthan 2026” on Wednesday.Organised under the slogan “One Platform, One Voice, One Resolve,” the meeting aims to facilitate collective decisions to safeguard the sector from further economic strain.“Yarn prices have put weavers in a challenging situation. Further, the market conditions are also pushing weavers into a corner and have created a challenge for the industry to grow further,” said Haresh Patel, vice-president, Rapier Jacquard Weavers Association, Surat.
