A large scale erosion has taken place, shelving the once promising textile industry to the back quarters. Textile manufacturing carried a significance in the industrial revolution experienced all over the world. It threw huge employment opportunities. It gave rise to a cluster of high profiled ancillary industries. It proved to be a safe bet to the bankers . It earned in volumes , making the promoter extremely rich , and the worker extraordinarily flushed with funds.
The charm of this cloth and yarn manufacturing process , was lost , when the reflection of high wage structure, high rate of interest, high cost of power, and still higher cost of raw material loomed large.. The Western countries , once a haven for textile manufacturing, lost its wicket and was bowled over., by these rising claims.
The Indian Manufacturing enjoyed a monopoly for a few decades . The victim of the high inputs was the centres located in North and West. They were knocked down The industry, turned south. The Textile sector was flourishing for decades down South , but succumbed to the escalation very quickly, leaving a vast work force bereft of food and finance. The promoters , who once spun money , have run away from the avenue for fear of imprisonment , as their liabilities have mounted so progressively .
The Southern India Textile show now ,is the grapple of awesome predictions, mangling cotton parties, manipuating financiers , harried workers, irritated creditors . This suffocation has made the industry , which was a cynosure of all eyes before, as an itching , irksome depiction .
One cool spot amidst the hot desert is the appreciation of the land which hosts the textile mills, The mills in Mumbai, have assumed a sky rocketting value , as the premises have been drawn to city , duet o expansion . Land is a rarity in Mumbai. These lands , in hectares were bought at throw away prices long ago, have reached a high value that is unbelievable and unthinkable. So , is the proposition down South. A land which was acquired in hecatares for a few hundred , is being quoted in millions and billions. The scenario of manufacturing hubub has assumed the back drop of real estates nad pose an exorbitancy and expensiveness almost unheard of.