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Varanasi silk industry flourishes as China makes a retreat
21
Jul '08
Recent earthquake in Sinchuan Province has devastated a considerable number of mulberry gardens in the area due to which China has imposed restrictions on export of silk products.

The silk industry of China has been hit so hard that it cannot even meet domestic requirements, let alone international market demand.

Taking those circumstances into consideration, Indian silk industry, particularly silk manufacturers in Varanasi, are hopeful about regaining lost ground in the international market by superseding China and snatching their export clientele base.

A section of Indian exporters are of the opinion that since China is retreating back into its shell, Varanasi silk products could easily penetrate in South Asian markets which were until now, dominated by Chinese goods.

This is one of the most suitable opportunities for Indian silk industry to prove its potential by supplying quality products, so that in future, customers would not get swayed away by cheaper prices of Chinese silk products.

Recent reports have revealed that silk exports of India, which largely includes natural silk, readymade garments and carpets, recorded a growth of 25 percent to fetch US $897.01 million dollars in 2007-08, compared to $716.45 millions registered a year before. Products are exported to over 200 destinations across the world and the demand continues to rise particularly from the American and the European countries.

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