ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Looking for Easy Profits Again

Looking for Easy Profits Again FOR the last three years, mainly on account of the decline in rural incomes and the recession, the cotton textile industry has been passing through a crisis. Some of even the more efficient units have failed to break even, and for quite a number of the marginal units the blow has been fatal. The crisis had forced millowners for once to squarely face the fact that they could not hope to survive unless they did something about modernising their equipment. The partial control on prices and production and excise duties were as usual blamed for the crisis, but the industry realised that the root cause was obsolete equipment and outdated and inefficient management. So in its numerous pleas for official rescue measures by way of financial assistance and fiscal concessions, the emphasis was on enabling the industry to find the resources for modernisation.

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