The Analysis of Industrial Sickness with Reference to the FCIL

Abstract

Objective - The growth and magnitude of industrial sickness is a dangerous issue, not only for the present situation but also for the near future. There are many reasons that could have caused a company to become sick and the reasons could be internal or external or a combination of both. In that regard, this paper aims to analyse the presence of industrial sickness by reviewing the revival policy measures of the Fertilizer Corporation of India Limited (FCIL), particularly the Ramagundam unit. Methodology/Technique - Data for this paper are extracted from sources such as the Indian Economy reports, the Department of Fertilizers Government of India reports and personal interviews with the employees of the Fertilizers Corporation of India Limited, Ramagundam unit. Findings - The results showed that the FCIL unit became sick mainly because of poor management decisions, feeble human resource management, use of outdated technology, power-cut problems, non-availability of raw materials and wrong government policies. Novelty - This paper highlights why the FCIL has been declared as a sick company and what sort of government policies and preventive actions should be taken for revival or to rehabilitate the company. Type of Paper: Empirical Keywords: Sickness; Revival Measures; Industrial Development; Fertilizers.