Industrial sickness is a concomitant phenomenon of the very process of industrialization in which vigorous and well-managed units grow,while poorly conceived,inefficient and marginal ones languish and disappear from the industrial scene. It is reconsidered that with constant technological advancement,the need to update production technology would arise in almost all industries over a period of time. However, industrial sickness cannot be looked upon essentially as an inevitable consequence of technological progress,as a result of process and product obsolescence,a price to be paid for the failure of management to anticipate emerging market need, or as a problem exclusively of banker and shareholders.