-SATISH HANDA
Rs 15000 crore annual turnover hosiery hub at Ludhiana in Punjab having nearly 14000 units manufacturing hosiery and woollen products catering nearly 80% demand of woollen garments in the country providing employment to nearly five lakh workers, besides exports of value worth Rs 200 crore to many countries across the world. Hosiery and woolen garments business in the town suffered heavy loss during this summer season because of extremely poor sale due to world wide COVID-19 epidemic outbreak when manufactured stocks either could not be despatched, sold, stuck up on way to destinations due to lock down. According to manufacturers, in most of the cases manufacturers payments were held up leaving them in financial crisis as a result they failed to procure raw material required for winter garments.
Most of hoisery and woollen products manufacturers at Ludhiana while talking to this correspondent predicted heavy cold during coming season and expressed hope for bumper sale in approaching winter season told that they are getting handsome orders and has started production in three shifts enabling to compensate losses suffered by them in summer season. S.P. Goel, Chairman Vardhman Group said,woollen industry at Ludhiana expect bumper sale this year. He said, over 70% migrant labourers working at Ludhiana left for their native places during lock down period have now returned and joined their duties as such all big manufacturing units at Ludhiana has resumed manufacturing up to 80-100% production capacity, whereas micro and small manufacturing units in Ludhiana has also started production up to 50-60% capacity, most of them working in double shifts in spite of facing financial shortages to meet demand in winter season suspecting heavy cold in coming few months.
According to Sandeep Jain Executive Director Monte Carlo, after reduction in COVID-19 fear, life is returning to normal, people has started coming out of their houses and visiting showrooms selling winter garments, which is a good sign for Ludhiana woollen industry to recover losses incurred in past about six months due to lock down or unlock period when most of the markets usually remained closed. Chairman of Ludhiana Knitwear Club Vinod Thaper said, as a result of lock down hosiery and woollen industry at Ludhiana failed to despatch manufactured stocks during summer season now facing severe financial crisis and need immediate financial assistance in order to undertake production of winter garments. He said, most of the manufacturers supplied goods have yet to recover payments of sold stocks from customers to whom goods were sold on credit and payments could not be collected due to sudden lock down declared by the government. Thaper made an appeal to government to come forward to the rescue of such small manufacturers and extend them financial assistance injecting energy to their arms at this crucial stage
