Summary:
Industrialists blame demonetisation, implementation of GST for the present dark phase of industryShivani BhakooTribune News ServiceLudhiana, August 11As many as 215 units were shut down in the city in 2018, according to the data available with the Department of Factories and Labour. Recession is seen as a major reason for this shutdown of units but there are also other factors responsible for the sinking industry. In the past two or three years, maximum units were declared DR in 2018,” said the official. President of FOPSIA Badish Jindal said as per their surveys and discussions with industrialists, about 1,500-2,000 units in the city were shut down in 2018-19. Be it the auto, bicycle or machine tools sector, all complain of slowdown and recession..