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The government on Wednesday said 555 cotton/man-made fibre textiles mills were closed as on October 31, 2011, affecting 2.9 lakh workers.
“As many as 555 cotton/man-made textile mills operating in non-small scale industries, having 2.9 lakh workers, were closed in Mumbai, Surat, Ujjain and Kanpur,” the Minister of State for Textiles, Ms P. Lakshmi, said in a written reply in the Rajya Sabha.
Most of these units closed down due to financial crisis, she added.
Among the States which witnessed closure of textile units, Tamil Nadu topped the list with 168 units, followed by Maharashtra 60, Uttar Pradesh 50 and Haryana 46, Ms Lakshmi said.
To another query, she said, “Based on the industry representations of slowdown in the textiles industry, the government is considering restructuring proposal for the sector.”
Referring to the Confederation of Indian Textiles report, the Minister said that out of the list of 287 companies in the Bombay Stock Exchange, 122 companies had reported net losses in the first quarter of 2011-12 and 166 companies had shown poorer results compared with last year.
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