Facebook Pixel The rags to riches story of a Bombay entrepreneur | Mint Mumbai - newspaper - Lees dit verhaal op Magzter.com
Ga onbeperkt met Magzter GOLD

Ga onbeperkt met Magzter GOLD

Krijg onbeperkte toegang tot meer dan 9000 tijdschriften, kranten en Premium-verhalen voor slechts

$149.99
 
$74.99/Jaar

Poging GOUD - Vrij

The rags to riches story of a Bombay entrepreneur

Mint Mumbai

|

February 28, 2026

Decades after the textile mill chimneys have faded from the Mumbai skyline, indelibly altering the demographics, architecture and culture of the city’s central districts, the fate of displaced textile workers continues to—surprisingly—animate political discussions.

- Rajrishi Singhal

The rags to riches story of a Bombay entrepreneur

A former textile factory in Colaba, Mumbai, 2010.

(GETTY IMAGES)

The campaigning for and outcome of elections to the Brihanmumbai Municipal Corporation (BMC), the country’s richest urban local body by a mile, for instance, provide insights into how the once-ubiquitous textile factory continues to haunt collective memory.

The textile factories were not mere physical symbols of industrial productivity and commerce but cradles for community development as well, providing livelihood for over 250,000 workers who had mostly migrated from rural Maharashtra. The workers and their family members tuned into the city’s rhythms to upgrade their songbooks and compose unique cultural memes; celebrations of traditional festivals turned into collective and voluntary labour, some of which have now become the city’s visible socio-cultural icons, such as the Dahi Handi festivities or Ganpati celebrations.

And then, following the prolonged textile strike of the 1980s, the mills shut down. Mill owners, with some help from the political class, were able to repurpose the land and monetise it, even though a part of the land was supposed to be used for public housing. Former mill workers, who lived near the mills in tightly knit communities, were also stakeholders because the mill land was on long lease from the city. But mill owners and political leaders successfully subverted rules and policy prescriptions. Unfortunately, even the trade unions failed these workers.

The forcible dispersal of a century-old community was turbocharged by a class angle as well: as south Mumbai got overpopulated, the wealthy and aspiring wealthy needed residential properties not too far from the original elite hub. This required overhauling the working-class character of the former textile district. End-result: out with the old textile mills, hello steel and glass skyscrapers.

MEER VERHALEN VAN Mint Mumbai

Mint Mumbai

Mint Mumbai

FPI buying fails to soothe edgy Street

Weak global cues and persistent risk aversion weighed on domestic stocks, dragging benchmark indices down on Friday and over the week.

time to read

2 mins

February 28, 2026

Mint Mumbai

Mint Mumbai

Supplement makers swap expensive whey for plants

Soaring whey prices are reshaping India’s fast-growing protein supplement market, squeezing margins and forcing companies to redraw growth strategies as consumption rises.

time to read

2 mins

February 28, 2026

Mint Mumbai

Mint Mumbai

SC chides losing bidders trying to stall insolvency

The Supreme Court on Friday pulled up unsuccessful bidding companies in insolvency cases for challenging commercial decisions taken by lenders, warning that such attempts undermine the design of India’s bankruptcy framework.

time to read

2 mins

February 28, 2026

Mint Mumbai

Mint Mumbai

Norway's fund cites corruption charges to exclude Adani Green

Norway’s sovereign wealth fund, the world’s largest, managing assets over $2.2 trillion, has decided not to invest in Adani Green Energy Ltd, citing corruption and financial crime allegations against it.

time to read

2 mins

February 28, 2026

Mint Mumbai

Mint Mumbai

Taking the slow lane in Mysuru

Mysuru's pace is drawing those seeking to escape the rush of large cities, and its conscious café culture reflects the space it gives people to pour themselves into a slow and creative life

time to read

15 mins

February 28, 2026

Mint Mumbai

GDP revamp shrinks size of India’s economy

India’s economy is now smaller than previously thought. New estimates based on an updated methodology and base year have shrunk the nominal output by over ₹3 trillion ($133 billion), validating concerns over the size of the economy.

time to read

1 min

February 28, 2026

Mint Mumbai

Mint Mumbai

Deepinder Goyal's only-fit hiring plan may test legal limits

Zomato founder Deepinder Goyal's call for engineers for his longevity venture, Temple, came with a caveat-they need to be supremely fit.

time to read

3 mins

February 28, 2026

Mint Mumbai

Mint Mumbai

Build your own village by showing up

For years and years, I have heard the phrase “it takes a village”.

time to read

4 mins

February 28, 2026

Mint Mumbai

Mint Mumbai

GDP grows at faster 7.8% in Q3 under new series

FY26 growth outlook raised to 7.6% from 7.4%; CEA pegs Q4 pace at 7.3% or more

time to read

3 mins

February 28, 2026

Mint Mumbai

Mint Mumbai

The rags to riches story of a Bombay entrepreneur

Decades after the textile mill chimneys have faded from the Mumbai skyline, indelibly altering the demographics, architecture and culture of the city’s central districts, the fate of displaced textile workers continues to—surprisingly—animate political discussions.

time to read

5 mins

February 28, 2026

Listen

Translate

Share

-
+

Change font size