The Impact Of Liberal Economy On India

1520 WordsAug 5, 20167 Pages
ABSTRACT Solapur is well known for power loom industry in India. Power loom sector has occupied a unique place in Indian economy. It accounts for percent of the total industrial production and 30 percent of the total experts. The impact of liberal economy is strong felt in power loom sector of India. There are new challenges and barriers that have come up in the development process of this industry. The present study focuses on the expectations of the power loom unit owners from the government. These expectations are pertaining to finance marketing and technology. The result of the study show that, there are major barriers or problems related to finance, labour and marketing. There is a need to improve technology, and there is a need to provide financial support by the government in terms of subsides, tax benefits, etc. to improve the financial condition of power loom sector. Key Words: Power loom industry, Financial, Labour, Marketing problems. 1. INTRODUCTION The power loom industry is one of the important industries in India with massive raw material and textile manufacturing base. The structure of Indian textile sector is extremely complex with modern, sophisticated and highly mechanized sector on one hand and the Handloom industry on the other and in between falls the decentralized small scale power loom industry. The power loom industry plays an important role in meeting the clothing needs of the country. There are approximately 13 lakhs power looms in different
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