The Sivakasi fireworks industry is facing challenges in staying afloat despite holding a dominant market share. This industry, located in the town of Sivakasi in Tamil Nadu, India, has been a major player in the fireworks market for many years. However, due to various factors, it is currently struggling to maintain its position.
One of the main reasons for the industry’s struggles is the increasing competition from other countries that produce fireworks at a lower cost. This has led to a decrease in demand for Sivakasi fireworks in both domestic and international markets. Additionally, strict regulations on the manufacturing and sale of fireworks have further impacted the industry’s profitability.
The Sivakasi fireworks industry has also faced challenges in terms of labor issues, with reports of poor working conditions and low wages for workers. This has led to protests and calls for better treatment of employees within the industry.
Despite these challenges, the Sivakasi fireworks industry remains an important part of the town’s economy, providing employment to thousands of people. Efforts are being made to modernize the industry and adapt to changing market conditions in order to survive and thrive in the future.
Overall, while the Sivakasi fireworks industry is facing difficulties in staying competitive, it continues to hold a significant market share in the fireworks industry. With the right strategies and support, it is possible for the industry to overcome its current challenges and remain a key player in the global fireworks market.