The company was originally incorporated under the name of Bharat Airways as an aviation company. After nationalisation of aviation in 1953, it diversified into the manufacture of blended spun yarns and changed its name to Bharat Commerce and Industries limited on January 4, 1956. BCIL was promoted under the leadership of B K Birla as its Chairman. In 1961, Kapila Textile Mills (now Sujata Textile Mills) and Kiran Spinning Mills were acquired by the company.
One of the largest producers of synthetic and blended yarns in the country, it offers a spectrum of yarns including viscose, staple fibre, polyester/viscose blended, acrylic, fancy and cotton. BCIL trades in cement and also operates an aircraft which caters to chartered flights.
The company came out with a rights issue in Oct.'94 to mobilise funds to modernise and expand capacities at its existing units. With the implementation of the project, the productivity of the company was increased to 25,500 tpa. In 1996-97 the company increased the Ring Spidles' installed capacity at Nanjangud unit by 2544 spindles.
During 1998-99, the company decided to close its Nanjangud and Rajpura Units. The Company has installed a Furnace Oil based D G Set of 4 MW capacity. The net worth of the Company has been eroded as on 30.06.99 and the Company has become a sick company and accordingly a reference has been filed with the BIFR.
The company was declared a Sick Company by BIFR and in reverse the company has submitted a Rehabilitation proposal to IDBI (Operating Agency) which was appointed by BIFR . The various proposals include reviving of Nagda unit by way of modernization and waiving of Interest charged by Banks,KSIIDC & KSFC etc. An agreement between management & workers union was entered for closure of Rajpura Plant.