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Indian hosiery sector wants ban on cotton exports to rein in prices

Hosiery manufacturers in India want the government to stop any further export of cotton till the next cotton season begins in October. They feel, this will control cotton prices and make the remaining quantity of harvested cotton crop available to domestic textile sector.

With cotton being the main raw material for knitwear manufacturers, any escalation in prices affects profit margins. Huge fluctuations in domestic cotton prices in recent months have resulted in an increase in cotton yarn prices. Hosiery includes socks, tights and pantyhose and nylons. The growth of socks segment is mainly driven by increasing demand for socks from the age group up to 14 years and the age group 15 to 64.

Consumers look for quality, durability, fit, style, and glamor while purchasing hosiery products. Not only is the market for women’s hosiery rising, the demand for such goods is rising from the men's segment too because these days even men follow new trends in fashion and apparels.

The e-commerce sector is a major driver propelling the growth of the hosiery market. Online retail stores save the consumer's time, give product availability at doorsteps, and offer products at discounted prices. Penetration of sheer hosiery has been lower in India, primarily due to the huge presence of unbranded sheer hosiery in the large unorganised marketplaces in the country.

 
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