Though it is peak season for Varanasi’s silk weavers, but showrooms across the holy city wears a deserted look as footfalls have thinned thanks to the currency crunch that has affected the silk weaving sector. Not only that, the manufacturing units too is deserted and the cranking looms have gone silent.

So much is the effect of demonetization that Silk emporiums have seen production drop by 50 per cent with demand down by a similar percentage. The existing stocks are being sold at significantly cheaper prices as they are desperate for liquid cash to pay weavers.

Since, people are unable to withdraw more than Rs. 50,000 a week, emporium owners cannot buy raw material or pay their labourers. Though some weavers supply sarees to the rest of India, demand from other big cities has dwindled and is down by half.

The plight of the smaller weavers, who sub-contract work for the bigger players, is even worse. But the worst hit are clearly the weavers. Currently, there are more than 30,000 daily wagers who work as weavers for a mere Rs 300 a day.