India's financial capital may be gaining a textile export zone, in a move proposed by Gurudus Kamat, Mumbai's new MP.

Kamat unveiled his plans to Sushil Kumar Shinde, chief minister of Maharashtra State, and argued that the zone would help the city gain back its "lost glory."

Mumbai's former prosperity as a world market leader in textile production took a downfall after a1980 strike, when many mill owners closed down their businesses.

More recently, the National Textile Corporation has closed down 12 of its 25 mills.

However, Kamat pointed out that Mumbai still contributes 40 per cent of ready-made garment exports. 

He has suggested that a textile export zone can by constructed with the cooperation of remaining landowners, and the possible use of one of the defunct mills' land.

He also believes that a zone would mean numerous employment opportunities for women.