Constitution-The Future Is Here

January 8, 1977 enough it is Japan which is now Plann- ing to compere with the Indian textile industry in the Indian domestic market as well, Japan, it is understood, is offering generals credit facilities to sure the National Textile Corporation to Import textile machinery from that countrys With 'large underutilised capacity, a stagnant domestic market and not particularly bright export prospects, the Indian textile industry will surely be adversely affected if the NIC actually goes ahead with its plan to import equipment. At the same time, the hue and cry raised over even such casual proposals reflects the inherent weakness of the industry. The Union minister for industry recently warned textile machinery manufacturers that unless they diversified, the industry would continue to face recessionary conditions. The textile machinery industry has, however, shown a surprising lack of interest in meeting the requirements of the Jute textile industry. Only recently have a couple of firms taken some initiative in this field. The manufacture of jute textile machinery today is he monopoly of a Calcutta-based firm.