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Wool products export target for FY12 fixed on higher side
23
Sep '11
The export target for wool and wool blended items for the current fiscal 2011-12 has been fixed on the higher side as compared to the last fiscal's export target.

The target for the current fiscal has been fixed at US$ 700 million or Rs. 33 billion.

The current fiscal's impressive target has been set in spite of the fact that the industry was able to achieve only US$ 429 million in exports last fiscal, as against the set target of US$ 630 million.

The slump in exports of wool and wool blended items was attributable to a number of factors, but contraction in demand from two key markets – EU and the US, earthquake in Japan and political turmoil in the Middle East countries were the main ones.

However, a significant rise has been noted in exports during the current fiscal, with exports during the initial two months rising to US$ 79.68 million, compared to exports of US$ 52.74 million achieved during April-May last year, which is a 49 percent year-on-year rise in terms of rupees and 51 percent in terms of dollars.

Fibre2fashion News Desk - India

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