Solapur textile industry an overview on marketing and financial problems Prof. Dabade Tanaji Dinkar*, Dr. Gawade Shivaji U.**, Prof. Khune Balaji Bhanudas*** *Assistant Professor, Sinhgad Institute of Management, Maharashtra, India **Head-Research, Sinhgad Institute of Management, Maharashtra, India ***Assistant Professor, Sinhgad Institute of Management, Maharashtra, India Abstract The textile industry holds significant status in the India. Textile industry provides one of the most fundamental necessities of the people. It is an independent industry from the basic requirement of raw material to the final product, with huge value-addition of every stage of processing. One of the earliest to come into existence in India, it accounts for 14% of the total industrial production. It contributes to nearly 30% of the total exports and it is the second largest employment generator after agriculture. This industry has the potential of generating a large number of employments to opportunities. About 35 million people are already engaged with this sector. That is why the Indian textile industry occupies a very important place in the economy of India. Now the textile industries in developing country like India are facing intensified competition in both, their export and domestic markets. The ongoing economic reforms and changes at the international economic scene including the emergency of World Trade Organization (WTO) have brought about certain challenges and several opportunities before the textile industry of India. The Indian textile industry exemplifies many of the opportunities and the threats from globalization. Typically build up under import substituting policies, it now has to adjust to increased international competition. The growth of textile and garments exports from well established producers such as china, UK etc.; and the increase trade in second hand clothing has put the Indian textile industry under sever pressure due to outdated technology, lack of innovative marketing strategy, non-availability of working capital etc. The impact of globalization is strongly felt in all sectors and types of business in India. Many have benefited and some have becomes victims of it, one such victim is the entrepreneur of textile of Solapur. Solapur is a city in South Eastern Maharashtra and is a Municipal Corporation, making it a self-governed entity, under provincial or state laws and has a municipal charter. Solapur is near the Karnataka boarder and is the administrative headquarters of the Solapur district. It is located on an important junction for the North-South railway line, a good base for its industries for logistical reasons, with approximately 98 medium and 8986 smaller industries. As stated the Solapur district consists of medium and small scale industries, although Solapur is one of the leading centre for power looms and cotton mills. Chaddars (Solapur Bed sheets) have earned Solapur a name and fame for their durability and novel designs. Solapur is known for its textile products, hence, the number of handlooms and power looms units is more in Solapur. Even Solapur was known for the composit mills right from cotton into yarn and yean into cloth. But from the year 1988, the composit mills were stated to face the problems and were closed down one by one due to financial, marketing, labour, technology problems. The power loom industry, which emerged in the informal sector when the mils closed, is under threat. The government has cancelled the 9% subsidy. The looms are empty, now the workers get work for only three or four days. Former Chief Minister Sushilkumar Shinde announced a revival package for power looms with various concessions for reopening of closed mills/units, but the entire textile sector of Solapur is still in the depression. This industry generally includes manufacturers, wholesalers, Suppliers of Cotton textile etc. Top Keywords Textile, Marketing. Top |