12 July 2022, Mumbai:
An Overview
Ludhiana is one stop destination for woolen sweaters and cotton apparel. The hosiery industry here is since donkey years now. The city boasts of a rich history of Winter Hosiery Products Pan-India. According to a Business Standard report," The relevance of hosiery industry in Ludhiana could be gauged from the fact that 90% demand of the woolen market in India is fed by Ludhiana industry".
Ludhiana which is situated in the North Indian state of Punjab is an important industrial town noted for its textile and related businesses.
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The COVID-19 pandemic and continuous farmers' protests are making it difficult for Ludhiana's hosiery sector to satisfy demand this winter, which prevents traders from Delhi, Haryana, and Uttar Pradesh from traveling here to purchase the material.
A glimmer of optimism was provided by the early beginning of winter for the producers of woolen clothing. Still, they cannot meet demand due to the epidemic and the current farmer demonstrations at Delhi's borders.
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Anuj Bahal, a store owner at a wholesale market, told ANI, The traders from neighboring states could not come here and acquire the material because of the ongoing farmers' protest.
He added that the wedding season is a little off because of the outbreak. Sales this year are down. The current environment has altered traders' perspectives. He added that sales have decreased by 30 to 35 percent compared to last year, as he said.
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According to Akhil Sachdeva of Pinnacle Fashion and Retail in Ludhiana, despite good demand brought on by the early start of the winter season, sales have been impacted by farmer protests.
However, sales started declining in December due to the continued farmers' protest. The peak season for the woolen business is in November and December since this is when demand peaks typically. However, the city's recent curfew has negatively impacted production and the industry severely.
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The previous several days have been a nightmare for units supplying the local demand, according to Charanjit Singh, Secretary of the Knitwear Club. He said that customers from other locations usually travel to Ludhiana on weekends, or Saturday and Sunday, to acquire the stock of woolen.
Still, the unstable situation in the city caused enormous losses for the hosiery companies. He also said that because woolen hosiery was a seasonal product, incidences like these would not bode well for the sector.
Ludhiana apparel industry growth story/history has been on the back of attaining attractiveness to entrepreneurs of diverse backgrounds in search of a job and economic/business opportunities.
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The lockdowns most negatively impacted smaller firms since the bulk of Ludhiana's garment manufacturing facilities are in the unorganized, cash- and credit-based sector.
This, combined with the recent labor shortage caused by migrants returning home in significant numbers, gave the industry a severe hit.
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Owner of the city's Silver Arc Mall, Ajay Nayyar, predicted that as more people enter the clothing stores now that the hours have been extended to 8 p.m. More than 80% of people who visit malls nowadays want to make a purchase.
This proportion was lower before the Covid era as more people engaged in window shopping. He added that we request permission from the government to be open on Sundays as well.
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Bird's Eyeview
According to Amit Thapar, president of Ganga Acrowools and vice chairman of the Punjab branch of the Confederation of Indian Industry (CII), the shutdown caused losses in the industry of almost 30%.
But now, he said, "we are on the road to recovery." Casual clothing continued to be in demand even if total sales were down since most people stayed home.
Vinod Thapar, chairman of Knitwear Club, claimed that pajamas were sold in significant quantities during the shutdown.
Historically USSR was the epicenter of Ludhiana Hosiery Exports in the 1980s & 1990s. However, with the fall of the USSR, the Russian market for Ludhiana is almost closed as of now. Therefore the hosiery units over here are constantly looking for ways to inroad into other markets to get a toehold.
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