Burning problems like acute power shortage, fluctuating demand, Government policy uncertainties, high cost of finance and stiffer overseas competition notwithstanding, Coimbatore still retains its traditional title of the Manchester of South India. With over 300 textile mills constituting about half the number in the whole of Tamil Nadu, and with an installed capacity of seven million spindles as compared to Maharashtra’s 4.5 million and Gujarat’s three million spindles, Coimbatore has proved a preferred destination for textile interests from the other parts of the country. Besides its locational advantage, the city-based textile machinery giants like LMW remain committed to regular supply of the entire machinery requirements of the Coimbatore mills.
The Coimbatore region, with its pleasant weather, is also known for its diversified activities, as well reflected in the proliferation of manufacturing units for auto components, multi-purpose pumps, leather goods and a range of engineering products, offering an additional attraction for investors both from within and without. The city has also a comparatively higher number of educational institutes and associations mainly focused on the textile industry. With the expanding textile and textile-related operations, the age-old comparison of Coimbatore with Manchester is no more valid. While Coimbatore is still known the world over as a major textile hub, Manchester has lost its traditional glory as a textile super power with the gradual conversion of mills there into godowns for other industries. Much worse is the case with Mumbai, another major rival for Coimbatore, where the space available with several mills in the city, particularly Lower Parel, has been utilised for construction of modern residential and commercial complexes.
Coimbatore continues to offer a lot of facilities for investors, and its textile industry is sure to further thrive on the back of fresh investments being made in the sector. This optimism is based on the much-awaited new textile policy being formulated by the Modi Government after fully realising the enormous growth potential of the sector. This will very well be supplemented by the State Government’s fulfilling, sooner or later, its repeated assurance of uninterrupted power supply, the lack of which has been the bane of the textile sector since long.