Ludhiana's hosiery industry is likely to beat China in a race for global expansion with a large number of French buyer’s preferring the Indian product than the Chinese for sourcing directly to their country.
French Exporters Textile Federation, known as `La Federation', the group, visited the Ludhiana's local woolen knitwear units as part of a CII-European Federation of Textile initiative and discussed modalities of business exchanges to source knitwear products directly from the city.
According to La Federation, International Manager, Anne Laure Linget, considering Ludhiana's expertise in knitwear industry, chances were high that the federation would decide to source materials from India rather than China.
Ludhiana knitwear cluster annually produces hosiery products worth Rs 5000 crore and its exports to several countries touch Rs 1000 crore, including the goods worth Rs 350 crore it sends to Europe.
Also With the removal of the quota regime, India's Textile and clothing industry is likely to up its exports from US $13 billion at present to US $40 billion by 2010.
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