Inflation hits Jabalpur textile hub | SupportBiz

Vertical View

Inflation hits Jabalpur textile hub

 
The textile industry in the town of Jabalpur, Madhya Pradesh, is lagging behind the others in the state. Industrialists have been cutting down their margins in order to survive in the sector.

There are  about 100 units in the industry, wherein  nearly 1,500 people are employed. These units make traditional cotton and synthetic saris and dress materials.  The industry earns a collective annual turnover of  about Rs.1 crore. “The industry majorly includes micro units, and is greatly dependent on them.   Products from the industry  are sold to  traders  from almost all  states in India,” said Prem Kumar, one of the industrialists. 

“The industry is now declining, as the  manufacturers are  not showing much interest in expanding their business. They are even ready to sell their products at lower prices just to be in the market,” he said.

“The reason for the lack of interest among the industrialists is  the fluctuating prices of raw material.   This affects the purchasing power of the industrialists,  forcing  them to restrict themselves from investing much in their  units,” said Kirrti Kumar, another industrialist.  

“The government must control  inflation, as it not  only raises the expenditure of the industrialists, but also stops them  from expanding their business,” he said.