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Article: Micro, cottage industries face financial crunch, closure.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- February 2, 2009
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Micro, cottage industries face financial crunch, closure
Coimbatore, Feb 2 (PTI) -- Micro and cottage industries especially engineering units such as pumps and motor units in this industrial region of Tamil Nadu have started feeling the pinch of the economic slowdown with many units facing the threat of closure.
A majority of the micro and cottage industries work for bigger industries and due to the slump in orders from these parent industries in the wake of the economic slowdown, a large number of them were almost on the verge of closure, industry sources said.
These industries numbering more than 25,000, which executed orders for pumps, ...