IMPACT OF GST ON POWER LOOM SECTOR: WITH SPECIAL REFERENCE TO BHIWANDI POWER LOOM SECTOR

Indian textile Industry second largest employment providing sector has several branches like powerloom
and handloom. It witnessed both opportunities and challenges as a result of digitalization.3D technology
has been used by many developed nation to expand the size of productivity. Bhiwandi is home to many
small power loom units owned largely by master weavers. These power loom units employ around 10-50
untrained weavers depending on size of the unit. Economic analysis is used by governments to
determine tax rates and evaluate the financial health of the nation or state, provides insight into
how markets operate, and offers methods for attempting to predict future market behaviour in response to
events, trends, and cycles. The Goods and Services Tax (GST) just over a year ago, India’s biggest ever tax
reform, aiming to replace more than a dozen federal and state levies and unify the sprawling economy.
While big firms have shaken off the effects of the change and are set to gain from a uniform tax regime,
small businesses across the country are still hurting. Main aim of the study has been carried out to analyze
the specific problems and prospects of power loom industry of Bhiwandi from GST. Around 400 worker
respondent and 30 Owners / Managers were part of the Case Study. Study found that though the nature of
work and the process remain almost same but GST has got several economy impacts on powerloom
industry. Cost of raw material has increase after GST. To keep parity of selling price the labour engaged
in the process were less paid compared to pre GST regime.