Ludhiana: Kashmiri woolen traders who visit Ludhiana every year to purchase winter have been shown a red flag by the hosiery industry in city which claims that many units had suffered severe financial losses as the traders from valley denied payment of arrears to them.After the winters set in, traders from across the country make a beeline to Ludhiana to procure woolen goods. Hosiery industry with nearly 12000 units is based in Ludhiana and besides manufacturing goods for other countries, supply goods North and Eastern states of India. However, now the manufacturers of hosiery products have shown reluctance in supplying woolens to Kashmiri traders on credit in wake of fears of denial of arrears. Industry leaders say that there have been cases where many industrial units of Ludhiana supplying goods to Kashmir came on the verge of shutting after the debt on Kashmiri traders increased without any return.Vinod Thapar, Chairman of the Knitwear Club of Ludhiana said that refusal of credit on goods to the Kashmiri traders was a unanimous decision taken after consulting different quarters of the industry. “After many cases where the traders from Kashmir refused payment to Ludhiana hosiery manufacturers surfaced, the industry decided that no woolens will be supplied on credit to the Kashmiri traders” said Thapar. He said that not all Kashmiri traders used to follow this practice, “but one bad fish spoils the whole pond” Thapar said.Ludhiana supplies hosiery goods worth Rs 50 crore to Jammu and Kashmir every year. Most of the goods are sent through trains to Jammu after which the material is loaded in trucks and sent to Kashmir and Ladakh regions of the state. Charanjiv Singh, Ludhiana based hosiery trader said that there were earlier some small units that exclusively used to supply goods to Kashmir. “However situation for them turned grim as Kashmir doesn’t have a hospitable atmosphere for Ludhiana based manufacturers who cannot go to the valley to get their goods in case of denial of payment by a trader there” he said.
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