6. A decompression system for decompression of compressed text data, the decompression system comprising: a memory; and a processor coupled to the memory, wherein the processor is configured to execute programmed instructions stored in the memory to: maintain a set of character tables and a cluster table in the memory, wherein each character table stores a set of Unicode characters corresponding to a character class of a set of characters classes, wherein each Unicode character from the character table is assigned with a shortened bit representation, and wherein the cluster table is configured to maintain a set of cluster types and a cluster identifier corresponding to each of the cluster type, wherein each cluster type corresponds to a character class or a valid combination of two or more character classes represented by the set of character tables; accept a compressed text string, wherein the compressed text string is a set of clusters, wherein each cluster is represented with a cluster identifier followed by shortened bit representation corresponding to each Unicode character in each cluster; classify the compressed text string into a set of clusters, wherein each cluster is identified based on a corresponding cluster identifier and the set of cluster types in the cluster table; identify a shortened bit representation and corresponding character table for each character in the cluster based on the cluster type applicable to the cluster; and generate a Unicode text string by representing each shortened bit representation in the cluster with a corresponding Unicode character, wherein the Unicode character is identified from the corresponding character table.
6. A decompression system for decompression of compressed text data, the decompression system comprising: a memory; and a processor coupled to the memory, wherein the processor is configured to execute programmed instructions stored in the memory to: maintain a set of character tables and a cluster table in the memory, wherein each character table stores a set of Unicode characters corresponding to a character class of a set of characters classes, wherein each Unicode character from the character table is assigned with a shortened bit representation, and wherein the cluster table is configured to maintain a set of cluster types and a cluster identifier corresponding to each of the cluster type, wherein each cluster type corresponds to a character class or a valid combination of two or more character classes represented by the set of character tables; accept a compressed text string, wherein the compressed text string is a set of clusters, wherein each cluster is represented with a cluster identifier followed by shortened bit representation corresponding to each Unicode character in each cluster; classify the compressed text string into a set of clusters, wherein each cluster is identified based on a corresponding cluster identifier and the set of cluster types in the cluster table; identify a shortened bit representation and corresponding character table for each character in the cluster based on the cluster type applicable to the cluster; and generate a Unicode text string by representing each shortened bit representation in the cluster with a corresponding Unicode character, wherein the Unicode character is identified from the corresponding character table. 7. The decompression system of claim 6 , wherein the shortened bit representation is based on the number of characters in each of the character table.