Due to financial difficulties nearly 288 mills out of 489 mills shutdown between 1995 and 2005. In past one decade, nearly 500 textile mills have closed down in country affecting 3.45 lakh employees.
In recent past, volume of shutdown came down to 21 percent in last two years and six percent in less than one year. According Government sources, Tamil Nadu faced closure of 124 mills, Maharashtra 65 mills and Gujarat encountered shutdown of 63 mills.
The non-SSI mills have closed down less following the trend of 5.09 percent in 98-99, 0.83 in 03-04 and 0.39 in 04-05.
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