The New Cloth Market was a mega initiative whose foundation stone was laid in the year 1959. The New Cloth Market had been started as an offshoot of already existing Maskati Cloth Market Mahajan. The idea was to cater the needs of ever increasing and ever changing demands of wholesales textile trade. The inauguration of the market was done by the then President of India Hon'able Dr. Sarvepalli Radhakrishnan. In the New Cloth Market, the entire chain of Textile Trading activity is going on. Offices of all major Cotton Traders, Spinning Mills, Sizers, Weavers and Processors are situated here. It has contributed in the developed of wholesale textile market in Ahmedabad.