Technology upgradation, innovation in design and new products are driving the growth of the Rs 16,000 crores Ludhiana hosiery industry, which largely comprises micro, small and medium enterprises. Despite the slowdown, the industry registered a growth of 20 per cent in 2012-13, and expects to replicate this growth rate in the current fiscal, owing to robust demand from the domestic market.

There are about 12,000 hosiery units in Ludhiana, which manufacture hosiery T-shirts, sweat shirts and semi-winter apparel. About 95 per cent of the demand for woolen hosiery in India is met by the Ludhiana industry.

On an average, 400 to 500 hosiery machines are being imported from China and other countries every month, which helps local hosiery manufacturers introduce innovative designs and upgrade their technology. These machines are totally computer-controlled and have an edge over traditional Indian machinery.

In fact it’s because of the deployment of new technology and new designs that the hosiery industry is thriving amid a slowdown. Many manufacturers are giving their product portfolios an innovative tweak. Some hosiery manufacturers have introduced home furnishings like bed covers, bed sheets, pillows and curtains made of hosiery. Traditionally, these items have been in the textiles segment.