Related Keywords: Bhiwandi and Malegaon powerloom, closure of processing units in Rajasthan, impact textile business in Surat, incurring huge losses due to market slowdown, low demand of grey cloth, people jobless, price of grey cloth falling, stop production, textile centres of Maharashtra
The alarming economic situation at both the textile centres of Maharashtra has left about one million people jobless besides a loss of about 150 crore rupees every day as over ten lakh powerlooms in Bhiwandi and Malegaon - estimated to be over 50% of the total in India, have stopped production. The two textile centres have incurred huge losses due to market slowdown and closure of processing units in Rajasthan.
