![]() Financial Daily from THE HINDU group of publications Friday, Feb 07, 2003 |
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Industry & Economy
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Textiles 48 more textile mills shut shop in Apr-Nov G Gurumurthy
COIMBATORE, Feb. 6 AT least 48 more textile mills folded up their operations between April-November 2002, the latest period for which statistics are available, taking the total number of the closed textile mills nationwide in the organised sector to 469. Within the textile industry, spinning sector which accounts for over 70 per cent of the closed textile mills has reported the largest number of mill closures at 338 as on November 30, 2002. About 43 more mills that were closed after March 31, 2002 when the total number of spinning units closed remained at 295. The composite textile units under locks as on end-November 2002 form the rest, i.e. 131. According to a State-wise closure of cotton/ man-made fibre textile mills in the non-SSI, Tamil Nadu accounted for largest number of mill closures at 105, followed by Gujarat at 97 and Maharashtra 48. In Tamil Nadu, maximum closure has occurred in the spinning sector at 99 whereas Gujarat has accounted for 63 of the 91 mill closures occurring in the composite mill sector. In the individual textile centres, Ahmedabad accounted for maximum mill closure of 54 (47 composite mills and 7 spinning units), while the number of units closed in Coimbatore was 41 (37 spinning mills). Mumbai has reported 14 mill closures as on November 30, 2002
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