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

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Polyster-A Dose of Whimsicality

December 4, 1982 of textile mills in Bombay for the re cession in demand for textile machinery. The strike, however, is only a part of the story. There are more important long-term factors at work as well. Pro duction of cotton cloth by textile mills dropped from 4,157 mn metres in 1970 to 3,146 mn metres in 1981. Even taking into account the rise in output of blended fabrics, total production of cloth by textile mills has been virtually stagnant. True, the textile industry may not be to blame for the larger failure of planning which has limited the domestic market for cloth by keeping even the cheapest varieties of cloth beyond the reach of one-half or even more of the country's population. The textile industry cannot, however, simi larly explain away its failure in the export market, in comparison with the performance of its principal competi- tors. A large measure of the fault un- doubtedly lies with the quality of entrepreneurship in the textile industry. Given that the primary preoccupation of the owners of a large segment of the industry is with siphoning money out of the industry through purchases and sales of cotton and cloth, it is naive to expect that the provision of finance by the financial institutions will per suade them to modernise the machinery and professionalise the management of their mills.

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