Industrial Sickness and Workers-Case of Gujarat Textile Industry

Case of Gujarat Textile Industry ISOLATED and sporadic closure of industrial units and bankruptcies are a normal feature in the developed economies all over the world. The incidence of closures tend to be high in economies characterised by fierce competition and in industries with a high degree of obsolescence. Developed economies with their well-established social security systems, easily take care of displaced workers by such closures, Margaret Thatcher succeeded in the privatisation programmes because UK had put into place a wide ranging social security system beginning in 1930. This provided education, housing and health cart and social security as doles and pensions. So even when labour is displaced, the social safety net ensured that basic needs were taken cart of. Developing economies with their limited investible resources and relatively limited alternative employment opportunities, however, cannot, easily afford their productive assets and labour force turning non-operational. The resultant loss of jobs, production and revenue are not easily absorbed and depending upon the number of persons involved may lead to serious consequences. Industrial sickness and resultant consequences have therefore to be handled carefully to see that its adverse impacts are least on workers and society.