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Kashmir unrest affects Ludhiana hosiery mills, losses rise to Rs 100 crores

Violence in Kashmir has resulted in the textile industry in Ludhiana go into a loss of over Rs 100 crores. Several hosiery units supplying goods to Kashmir have suspended production while a majority of these outfits have closed down their shutters. The textile industry from Ludhiana supplies shawls, jackets, sweaters, gloves, caps, warmers and blankets to Jammu and Kashmir. It may be noted that knitwear houses manufacturing shawls did send their raw material to Kashmir but the raw material is stuck up ever since the unrest started in Kashmir.

According to Tarun Jain, Chairman, Bahadur-Ke-Textile and Knitwear Association, the Ludhiana hosiery industry has suffered a loss of nearly Rs 100 crores due to the unrest in Kashmir. Jain himself suffered losses worth over Rs20 lakh as the shawls sent to Kashmir for embroidery is stuck due to the unrest.

He said a majority of traders could not sell their goods beyond Jammu city. Informing that there were several small towns near Srinagar where hosiery material is sold in bulk. However, due to the problem, these places have become completely inaccessible. Jain rued that if the hosiery industry closes down, it would affect other sectors as well. For example, nearly 40,000 labourers are working in factory units located in Bhadaur Ke cluster. If an average worker is married and has two children then over 1.5 lakh people are dependent on the industry. While many hosiery units have closed down, several traders in Kashmir could not make payment of the previous year’s purchase. Further, there are cycle and motor mechanics, printers and other traders who are also dependent on the industry.