"Very nice with a smiling face", these were the first words from Union Textile Minister Piyush Goyal upon seeing the bust of R.K.Shanmukham Shetty which he unveiled on Thursday.

This bust is installed in the SIMA Headquarters in Race Course. 

Mr.Shetty was the founder of Southern India Mills Association (SIMA) in Coimbatore, and also was the Independent India's first Finance Minister.

Textile Mills were established in Coimbatore by its own people since 1920s. But visionaries like R.K.Shanmukham Chetty understood the importance and value research could provide to businesses. Hence he also was instrumental in the formation of Southern India Textile Research Association (SITRA)