Technology upgradation, innovation in design and new products are driving the growth of the Rs 16,000-crore Ludhiana hosiery industry, which largely comprises micro, small and medium enterprises (MSMEs).
Despite the slowdown, the industry registered a growth of 20 per cent in 2012-13, and expects to replicate this growth rate in the current fiscal, owing to robust demand from the domestic market.
There are about 12,000 hosiery units in Ludhiana, which manufacture hosiery T-shirts, sweat shirts and semi-winter apparel. About 95 per cent of the demand for woollen hosiery in India is met by the Ludhiana industry.
Dawar added, "It is because of deployment of new technology and new designs that the hosiery industry is thriving amid the slowdown." He pointed out that many manufacturers are giving their product portfolios an innovative tweak. For example, some hosiery manufacturers have introduced home furnishings like bed covers, bed sheets, pillows and curtains made of hosiery. Traditionally, these items have been in the textiles segment.
Ludhiana based-Oster Knit (P) Ltd says it's the first manufacturer to have introduced home furnishings made of hosiery material. Arora Fabric (P) Ltd has also done so.
Oster Knit's managing director, Jagmohan Singh, said, "We were the first to introduce these products in hosiery, because the market for these products is huge. Later, witnessing the robust demand, we set up a new unit dedicated to home furnishings in hosiery. Now, a number of manufacturers in Ludhiana have followed our example."
Despite the slowdown, the industry registered a growth of 20 per cent in 2012-13, and expects to replicate this growth rate in the current fiscal, owing to robust demand from the domestic market.
There are about 12,000 hosiery units in Ludhiana, which manufacture hosiery T-shirts, sweat shirts and semi-winter apparel. About 95 per cent of the demand for woollen hosiery in India is met by the Ludhiana industry.
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Darshan Dawar, president, Knitwear Club Ludhiana, told Business Standard, "On average, 400-500 hosiery machines are being imported from China and other countries every month, which helps local hosiery manufactures to introduce innovative designs and upgrade their technology. These machines are totally computer-controlled and have an edge over traditional Indian machinery."
Dawar added, "It is because of deployment of new technology and new designs that the hosiery industry is thriving amid the slowdown." He pointed out that many manufacturers are giving their product portfolios an innovative tweak. For example, some hosiery manufacturers have introduced home furnishings like bed covers, bed sheets, pillows and curtains made of hosiery. Traditionally, these items have been in the textiles segment.
Ludhiana based-Oster Knit (P) Ltd says it's the first manufacturer to have introduced home furnishings made of hosiery material. Arora Fabric (P) Ltd has also done so.
Oster Knit's managing director, Jagmohan Singh, said, "We were the first to introduce these products in hosiery, because the market for these products is huge. Later, witnessing the robust demand, we set up a new unit dedicated to home furnishings in hosiery. Now, a number of manufacturers in Ludhiana have followed our example."