Hosiery manufacturers fear poor business this season

Shivani Bhakoo

Tribune News Service

Ludhiana, October 4

The hosiery manufacturers in the city, who have been catering to the domestic market for the past several decades, are quite worried this season. Reason: In absence of cash flow, marriages can be a low key affair. Still some manufacturers are hopeful that if it rains in the next few days, they can expect a good business season as there will be early onset of winters.

Talking to The Tribune, Darshan Dawar, chairman of the Ludhiana Woolen Manufacturers, said, “Most of the manufacturers are supplying goods in bulks in states like Madhya Pradesh, Uttar Pradesh, Imphal, Jammu and Kashmir etc. However, in the absence of sufficient cash flow, we have come to know that less marriages are being solemnised in these states. People from these states purchase woolens, including women cardigans, jackets for men and women, shawls etc. to be given in dowry. Not many buyers have come so far to make such purchases and it is a cause of concern for all of us. Still we hope to get good business if winters are timely.”

Another woolen manufacturer Sanju Dhir said manufacturers were worried because as of now, there were no buyers in the market. “The rates of yarn have witnessed a sharp increase so buyers are staying away and are not ready to pay more to get the stuff. Ludhiana is the major supplier of woolens in many states, but if the buyers do not come, we will be in losses,” said Dhir. He also added that buyers were looted and stopped at the railway station and city markets, which was another major cause of concern to the local market here.

At the same time, the manufacturers of brands like Rage (dealing in women range) expect good business ahead as winters are expected to come early. Akash Bansal from Rage Knitwear said in case rains come in the month, the season will change automatically and temperature will drop all of a sudden. “Last year also, the winters came within 3-4 days after the sudden rains. In case this happens, we will have no problem and we expect a good business season ahead,” said Bansal.

Fact file

• The manufacturers are worried for various reasons such as less cash inflow, fewer number of marriages and buyers being harassed at the railway stations.

• They expect good business if onset of winter is early.

• Those dealing in brands expect good business.

• Manufacturers worried as yarn rates have increased and buyers are shying away from placing orders.

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