A Study on Growth and Financial Performance of Selected Textile Companies in Coimbatore District
Keywords:Indian economy, textile industry, Coimbatore, financial ratios
The textile and garment industry fulfils a pivotal role in the Indian economy. It is a major foreign exchange earner and, after agriculture, it is the largest employer with a total workforce of 35 mn. In 2005 textiles and garments accounted for about 14% of industrial production and 16% of export earnings. In cotton yarn production India has made a mark in the world textile scenario. It is the largest exporter of the cotton yarns in the world. Besides yarn exports, Indiaâ€™s growing garment industry is working as a driving force to improve the yarn quality and to increase the production of cotton yarn. This has resulted in an overall improvement in the quality of all textile products including yarn and fabric. The WTO era has seen remarkable improvement in export of textiles. To help the mills in bench marking, SITRA has conducted a survey on the cotton yarn quality for fine and superfine yarns, in which 58 mills from all over India have taken part.