Financial Efficacy of Selected Textile Spinning Mills in India
India’s textiles sector is one of the primary sector contributing to the development of the nation and employing millions. Even today, textiles sector has its contribution for exports around 11 per cent. The Indian Textile Industry contributes 5 per cent to India’s Gross Domestic Product (GDP), and 14 per cent to overall Index of Industrial Production (IIP). The textiles industry is primarily labour intensive which is classified in to unorganized and organized sectors. In the first category handloom, handicrafts and sericulture are in place which is mainly operated by small and medium scale entrepreneurs. The organized sector of textile includes spinning, apparel and garments segment which apply modern machinery and techniques such as economies of scale. Totally the sector employees more than 40 million workers directly and 55 million indirectly .So it is very much important to analyse the financial aspects of the well performing textile units operating in the country. The present article analyses the factors influencing the profitability of the selected textile spinning cotton blended mills based on their net profit.
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