The India Government Said That 555 Textile Mills Were Closed As Of October.

The India government said today that as of October 31, 2011, there were 555 cotton / man-made fibers. Textile mill Closure affects 290 thousand of the workers' employment.

"In the non small scale enterprises, up to 555 cotton / man-made fiber textile factories located in Mumbai, Su La, Ujjain and cam Po. Close It affects the employment of 290 thousand workers, "said Panabaaka Lakshmi, Minister of state of India's textile industry, in a written reply to the federal Academy's report.

The reason for the collapse of most of the units is the impact of the financial crisis, she added.

"The textile industry is slowing down, so the government is considering the proposal to restructure the textile industry," she said. The minister said, India The Textile Federation (CITI) reported that 122 of the 287 companies listed on the Mumbai stock exchange reported a net loss in the first quarter of 2011-12, and 166 companies reported less performance than last year.