Automation is the need of the hour as increasing labour problems are almost forcing manufacturers to look at automated solutions to stay competitive. Another company which has recently adopted automation is Olympic Overseas, Delhi. Manufacturer of socks for the domestic and export market, Olympic Overseas recently changed 70 per cent of its old machinery with new and advance machines. The company has added advance socks making machines of KTM. “Labour issues have really affected working of the industry as market conditions have also become very tough, so we decided to upgrade ourself. We will complete our upgradation within three months. It is costing us almost five crore rupees,” says Atul Jain, Chief Executive of the company.
Olympic Overseas is exporting 15 per cent of its production to UK, France and Belgium, while the rest is being marketed under the brand “Posh”. With the automation Olympic Overseas is expecting 20 per cent growth this year.
