Hosiery industry worried as buyers return products

Tribune News Service

Shivani Bhakoo

Ludhiana, March 16

The hosiery industry, especially those manufacturing the woolen products like jackets, pullovers, sweaters, mufflers, warmers etc., are a worried lot as Tibetan buyers have returned around 25-30 per cent stock this year.

Darshan Dawar from Ludhiana Knitwear Club said almost 30 per cent of the stocks are returned by the Tibetan buyers this year. “Though they have not given any solid reason for it, brief spell of winters is the main reason behind the return. Now, manufacturers do not gain much when the orders are in bulk, so hosiery manufacturers are bearing the brunt,” said Dawar.

Sujit Kumar, another manufacturer from Sunder Nagar, said a good number of Tibetan buyers come to Ludhiana to make purchases of woolen articles. Business worth over Rs 250 crores is done each year in this market by the manufacturers of Ludhiana resulting to good gains.

“They are good paymasters, most of the stocks are cleared cash or small credit period and these buyers come here for the last 4-5 decades, placing orders. Though returns are made but not like this time. Now, we will have to keep the stocks, get these packed afresh again in the coming winter season,” rued the jacket manufacturer.