How did The Sick Textile Undertakings (Nationalisation) Act, 1974 impact the textile industry in India?
The Sick Textile Undertakings (Nationalisation) Act, 1974 had a significant impact on the textile industry in India. It led to the nationalization of sick textile mills, which were suffering from financial distress and poor performance. This move aimed to revive these mills by bringing them under government control and providing necessary support for their restructuring and modernization. As a result, the act contributed to the overall growth and development of the Indian textile industry.