Dark days ahead for South India’s textile industry ?

Dark days ahead for South India’s textile industry ?
PTI
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First Published: Mon, Feb 18 2008. 05 14 PM IST
Updated: Mon, Feb 18 2008. 05 14 PM IST
Coimbatore: The textile industry in Tamil Nadu would be forced to cut down production or some units would be closed throwing lakhs of workers out of jobs if the power scenario, which is already witnessing shutdowns and trippings, did not improve in summer, an apex industry body cautioned today.
The power shutdown and trippings were to likely to go up by 25% during the summer and textile production might be cut down to the tune of 20 to 25% and some units would face closure, said Dr K V Srinivasan, chairman, Southern India Mills’ Association (SIMA),in a statement here.
The industry also faced severe shortage of workers, high cost of transportation, leading to the worst situation, he said.
Some of the units have already reduced the production by 20% and there was every likelyhood of all other units too doing so, he said.
Many units were available for conversion work or for sale and some have already been closed, Srinivasan said adding that most of the new projects, expansion and modernisation projects have been shelved due to severe recession in the textile industry in the state.
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First Published: Mon, Feb 18 2008. 05 14 PM IST
More Topics: Sima | Textile | Tamil Nadu | Shutdowns | recession |