Industrial Development in Tamilnadu during the Depression
The industrial growth in the Madras Presidency was substantial. In Coimbatore, after Stanes Mill (Coimbatore Spinning and Weaving Mills) was established in 1896, no other mill could come up. The objective conditions created by the Depression like fall in prices of land, cheapness of labour and low interest rates led to the expansion of textile industry in Coimbatore. Twenty nine mills and ginning factories were floated in the Coimbatore area during 1929-37. A cement factory started at Madukkarai in Coimbatore district in 1932 gave fillip to the cement industry in the state. The number of sugar factories in the province rose from two to eleven between 1931 and 1936. There were also proliferation of rice mills, oil mills and cinema enterprise during this period.
