Ludhiana hand tools witness spike in exports | SupportBiz

Vertical View

Ludhiana hand tools witness spike in exports

 
The hand tools industry in Ludhiana has witnessed a huge growth in 2012. The industry is developing as a major export zone, according to the manufacturers.

“The hand tool industry in Ludhiana is quite old, supplying these tools to various mechanical industries. There are over 5,200 such manufacturing units in Ludhiana, of which over 50 are very well renowned. The industry employs over 5,000 people in total, and has an annual turnover of Rs. 600 crore,” says SC Ralhan, President of the Ludhiana Hand Tools Association.

“The industry has witnessed 30% growth this year due to an increase in the exports of the tools. The manufacturers have started exporting to various parts of the world, including African countries, Europe, USA, the South East and Middle East,” says Ralhan.

“Earlier, there were less export opportunities. Such opportunities have now increased, and the industry is now making full use of them,” he says.

“We are looking forward to further increase the export opportunities. We have set up a plant to manufacture cold forged sockets, with a capacity to manufacture over four crore sockets in a year’s time,” Ralhan adds.

“However, we expect that that the industry will grow at the rate of 15% in 2013 due to the after effects of recession in the market,” he says.

“We are facing a major problem due to the increase in the power tariff by the Punjab State Power Corporation Limited (PSPCL), as well as an increase in the prices of diesel and petrol. We have taken up the issue with the industry regulatory body, but have not received any response yet,” says Jagdeep Singh, a manufacturer of hand tools.

“This is one of the few industries in the state to be growing during this period, all thanks to the increased exports in this sector. We are working hard to further increase the exports, and to convince the state government to help the industrialists in achieving further growth,” says Rakesh Sharma, another hand tools manufacturer from Ludhiana.