A few nip and tucks is all that Tirupur’s textile industry needs to survive

Many spinning mills that ran round the clock in Tirupur have temporarily shut shop due to low market demand and workers in several units have been sent back home until the situation normalises.

Textile hub Tirupur feels the heat of slowdown

Over the years, the state of the textile industry has slowly started changing. With the growing crisis in the industry, the power loom units in Tirupur district, Tamil Nadu have witnessed a huge drop in receiving orders compared to previous years.

Gig economy a fast employer, but not a troubleshooter

The gig economy is assuming some importance now, not just because it has been expanding at a furious pace according to some HR consultants, but also since the expansion is happening as the Indian economy slows down and formal jobs become harder to come by.

Hit by job loss, Howrah’s foundries hope for bailout from Centre

“Order for our products has dropped drastically in the past few months. On top of that payments from our clients have also become irregular,” says Satyajit Kundu, Owner, Lakshmi Foundry Works Private Limited, Howrah, adding that lack of demand has made at least 25 per cent of workforce redundant.

Diamonds give Gujarat traders nothing to cheer

Earlier girls used to blindly marry boys from families of diamond merchants. Now the invisible board outside every girl’s house is: diamond dealers needn’t apply, says Maganbhai V Patel, secretary of the Diamond Market Association of Ahmedabad.

Gloom and doom of falling demand ahead of festive season

To understand the current slowdown in Indian economy, look no further than the Gujarat model of recession. The state once touted as the beacon of vikas (development) is now showing classical signs of a systemic slowdown.

Why economy chokes when consumers tighten their purse strings

Indians are not buying homes, cars or flight tickets. Big deal, you’d say, arguing that the real estate market was a bubble waiting to burst and the rest of the expenses are discretionary. But, the problem with the Indian economy at the moment is that people are buying absolutely nothing—not even cheap biscuits, not even underwear.