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4. Hundreds rendered jobless as 90 of 100 bangle factories down shutters in
Firozabad

Hundreds rendered
jobless as 90 of 100
bangle factories down
shutters in Firozabad
Aditya Dev & DM Sharma| TNN | Updated: Nov 17, 2016, 11.49 PM
IST

Out of 100 bangle factories
in Firozabad, 90 have downed shutters in the past few days due to cash
crush.

"Demonetization has had a severe effect on the bangle industry.000 notes were announced.000 to Rs 10.000 is being wasted at each factory every day. Banks are not giving us more than Rs 5. Industrialists have raised concern that as compared to Rs two lakh needed to run the factories every day. They added that the move taken by the Union government has come as a double blow to them as fuel worth Rs 10. said.000 blaming .000 per day ever since demonetization of old Rs 500 and Rs 1.000 notes ceased to exist as valid currency.000 to Rs 15. president of UP Glass Manufacturing Syndicate. They claimed that they have not been able to pay the daily wage labourers in these factories as the old Rs 500 and Rs 1.FIROZABAD: Hundreds of labourers have been rendered jobless in Firozabad as 90 out of 100 bangle factories here have downed shutters because of cash crunch due to demonetization. they have been able to manage only Rs 50. We are facing multiple problems in withdrawing money from banks. Rajkumar Mittal.

There is a growing .cash crunch. 2016.09 PM IST PTI Photo FIROZABAD/AGRA: As many as 10 big factories in Firozabad have been shut in the past two days due to shortage of cash flow. 11. following the demonetisation of big currency notes. 10 factories down shutters DM Sharma & Aditya Dev| TNN | Nov 11. How are we supposed to run factories with such a meagre amount?" Cash crunch hits Firozabad glass industry. Factory owners have been unable to pay wages to hundreds of labourers.

more and more factories would have no option but to shut down. president of the Glass Industrial Syndicate. causing hassles to people and putting their business in jeopardy.resentment among industrialists who said the currency ban." said Hanuman Prasad Garg. "Ten factories have closed so far due to non-payment to workers. In some factories. Industrialists said if cash flow did not increase in the coming days. where work was going on till Friday. . workers had given an ultimatum. There is a need of around Rs 1 lakh in cash per day to be paid to daily wagers. could have been implemented in a better way.

. In Agra. there are 3. one of the largest leather clusters in the country. 2016. the number is above 8 million. is facing a serious manpower crisis as the factory owners are not able to arrange cash to pay the weekly wages of their labourers. 11.5 million labourers working in the shoe manufacturing units.Agra shoe industry faces manpower crisis for want of cash Arvind Chauhan| TNN | Nov 19.52 PM IST AGRA: The Agra shoe industry. while in unorganized small-scale units.

there is no cash to pay daily labourers and the lack of workforce was hitting the exporters hard.The situation is so grim that even chief minister Akhilesh Yadav took note of it and recently shot off a letter to Prime Minister Narendra Modi.Jag Mohan Shahroo Moshin. vice-president of AFMEC. "We support the demonetisation move of the central government to flush out black money. which accounts for 30% of India's total shoe export at Rs 3. In the letter. But since our labourers are paid wages in cash and on . Latest Comment The problem is more with who always used only cash transaction. told TOI. According to Agra Footwear Manufacturers and Exporters Chamber (AFMEC).500 crore per annum. the CM drew Modi's attention to the plight of this massive workforce and requested him to relax rules to let them get their wages.

so that we can pay them through bank. We request the government to provide us a six months' period to get bank accounts for all our daily workforce. said. we have not been able to pay them."Puran Dawar. But demonetisation has . "My earnings at present. Agra's small-scale manufacturers make 60% of all the shoes sold in the country. they do not have bank accounts. The small-scale units which are spread in several parts of the city have been hit by the cash crunch. which happens to be the peak time of our trade. Notably." The workforce in the unorganized sector is even worse hit. According to Vishal Verma. the sale of shoes are high due to winter as well as other festive occasions. a supplier of shoe soles in Mantola area of the city. "We are facing a serious crisis.a weekly basis. After Diwali till Holi. Besides. Our businesses are severely hit. is nil. president of the shoe exporters' chamber.

Click here to download it for your device . let alone making new shoes." Stay updated on the go with Times of India News App. We are not able to clear our dues.hit us hard.