New Delhi, November 19: The Rs.16,000 crore hosiery industry that in Ludhiana is witnessing a revival of sorts due to investments in technology, design innovation and development of new products, a published media report suggested.
The garment industry, which operates mostly in the micro, small and medium, has registered a growth of 20 per cent in the previous financial year despite the overall global slowdown, says the report published in the Business Standard (Read the Full Report).
The article quoted Darshan Dawar, President of the Knitwear Club of Ludhiana to suggest that about 500 hosiery machines are being imported from China and other countries each month and has led to a revival of the business which expects to replicate last year's growth this time round.
The machines are computerized and perform better than those supplied locally, the official says adding that the new technology has also brought in capabilities of creating new designs that has led to a revival in the sector.
Known for manufacturing hosiery T-shirts, semi-winter apparel and sweat shirts, the industry is now going in for innovation with some business owners now offering new products such as home furnishings made out of hosiery.