Silk exports climb to Rs 239.34 crore in India
For the period April-November 2006, the UK’s share of silk imports from India showed nearly 2%, while the US market dipped by 2%. The dip in the US market seems primarily due to other fabrics and dress materials gaining precedence over silk. While exports to the US came down to 27.8% compared with 29.8% during the same period in the previous year, the UK market went up from 9.7% to 11.6%. On the revenue front, while the US declined from Rs 602.8 crore to Rs 575.38 crore, the UK went up from Rs 196.15 crore to Rs 239.34 crore.
It was during the period 2002-03 that the Indian silk exports witnessed a growth in the UK sector. Indian silk exporters contribute 17% to the UK’s silk imports after China at 14%. India meets almost 50% of UK’s silk fabric demand. Silk fabric exports to the UK increased to $31.42 million in 2005-06 from $20.26 million in 2003-04 and it is expected to increase by 15-20% in 2006-07. For the year 2006-07, the ministry of textile is targeting to export silk worth Rs 3,200 crore which would include readymade garments, carpets, wastes and fabrics.
Encouraged by the recent bulk orders received from UK and UAE, the exporters have high expectations to meet the above goal. Combined share of the UAE and Saudi Arabia in the Indian silk exports increased to 8.6% in the April-November 2006 period from 7.5% in the same period a year ago, while revenues from these countries also went up to Rs 176.56 crore from Rs 151.60 crore. The top five countries US, the UK, Italy, the UAE and Germany import Indian silk goods accounting for 27.8%, 11.6%, 6.7%, 5.9% and 5.7% respectively.