When coronavirus came, the first gaz was lying on the silk or silk industry of Varanasi because 60 to 70 percent of the raw material comes from the same China where the virus was first found. The remaining cancer lockdown was completed. Now the lockdown opened, the silk business began to groan more than before. Small weavers always suffer injury, but this time even big silk traders face the danger of sinking capital.
Varanasi or Benaras traders, known for their silk-rich fabrics in the country and the world, feel that this business, with a turnover of Rs 2,000 crore annually, will shrink by at least 30 percent this year. They also feel that it will be felt in the years to come. However, like other industries, there is no shortage of artisans on Banarasi silk, but silk artisans are getting more than necessary and this is due to Kovid-19.
Rajat Mohan Pathak of Synergy Fabricraft, a major export of Banarasi silk, said that due to the epidemic, a large number of weavers have returned to their homes from cities like Surat, Mumbai and Bhiwandi. Due to this weavers in Varanasi have become very much out of necessity. The real problem is the sinking of money in the market and not getting new orders. Due to lack of work, around 1 lakh unskilled laborers have been removed from the silk factories in Benares and nearby areas. The wages of permanent workers have also been reduced by 10 to 50 percent.
Silk traders are stating that both handloom and power loom are going through problems of work shortage and payment of dues. They do not even see the scope to recover the borrowings from those who had delivered the goods. Small businesses are more difficult. The cost of repairing the machines is incurred on them to restart the power loom which has been closed for 70 days and new orders are not coming i.e. earning ciphers and expenses. Handloom artisans are struggling with raw material and orders, the cost of family members returning from other cities has increased.
Like all traditional trades, Banarasi silk works also carry borrowings ranging from one month to 18 months. Even before the idea of borrowing, Unbika goods have started returning in huge numbers. All the big and small businessmen are sitting on the cords of the finished goods and the buyers are not taking the name of the exit. Seeing the rapid return of goods sold to traders, there is a danger of capital drowning and ruin on all traders.
The reader explains that the problems started even before the arrival of Kovid-19 in India. Since February, the cost of silk yarn had gone up by 25 to 35 percent and the cost of embroidered goods by 50 percent, with imports off China. Malabar catcher threads coming from China are the first choice of silk artisans not only in Varanasi but also in other parts of the country. The arrival of these most consumed yarn has been completely closed for the last four months. The artisans do not even know when the supply will be restored from China. Supply is indeed a big problem as Varanasi, with a turnover of Rs 2,000 crore annually, consumes 10 tonnes of silk daily. In neighboring districts of Mau, Azamgarh, Mirzapur, and Ghazipur, close to 7 lakh people are associated with this business.
However, now businessmen seem disillusioned with silk. Pathak told that most of the big silk traders are now thinking of leaving this business and venturing into real estate and other businesses. He said that in the last few years, the unorganized sector like the silk industry has been facing the problems of demonetization and GST and now the lockdown has created a problem. In such a situation, traders feel that the traditional business is dangerous and there is no option but to look into other areas. Silk traders are also saying that much will change if the business returns on track. Due to the return of the unsold merchandise, the traders will now send the goods on written agreement not oral. Hardly borrowed goods
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