None were injured in the mishap and thick columns of smoke continued to emanate from the seven-floor building, a Fire Service official said.
The blaze was noticed at about 4 AM and immediately several fire tenders were rushed to the spot.
"By using skylift we have rescued 12 people. None was injured...Smoke is emanating from the basement and it is being extinguished," a Fire official told reporters adding that an electric short-circuit might have caused the fire.
Officials said to ensure safety, the textile showroom and the area around it had been declared out of bounds for the public.
Disclaimer: No Business Standard Journalist was involved in creation of this content