The Russia-Ukraine war now followed by war between Israel-Hamas has adversely disturbed world renowned balnket manufacturing industry at Panipat due to hike in cotton yarn prices and have severely hit Panipat’s export business having drop up to 60 per cent this year de to cancellation and halting of orders put exporters in trouble. Raman Chhabra,  Chairman of Society  and Rajat Grover Secretary said that the exporters are not getting orders from Russia, USA , France, Germany, Italy and other European countries this year recieved nearly 70% less orders and did export business of value hardly 10 to 12 thousand crore.

 They said that Panipat generally has around Rs 45,000-crore annual turnover, including over Rs 15,000 crore from exports alone. Around 4000 units manufacturing handloom products functioning here having export of handloom products, blankets, bed sheets, cushions and hundreds of other items exporting to all over the world. Lalit Goyal, president of the Panipat Exporters’ Association said, cotton yarn prices had increased to around Rs 330 per kg from Rs 160 per kg earlier. Open-end yarn, which was earlier available at Rs 120 a kg, had gone up to Rs 170-190 a kg now.

The slowdown in exports at Panipat started in the beginning of this year. There were hardly any fresh orders from overseas buyers. The previously placed orders were also cancelled or held up by them, Goyal asserted. “If the situation doesn’t improve in the coming days, textile exporters will lose business worth around Rs 7000-8000 crore this year ,that will be a big setback for Panipat-based exporters,” Ashok Gupta, vice-president of the association, said skyrocketing freight charges had increased the production cost by 15-18 per cent. “The economic conditions in America and Europe have led to a slump in demand, thus adversely affecting the Panipat textile industry. If the situation doesn’t improve, employment crisis will also set in,” he said.