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Indian silk faces threat of losing market share in global arena
04
Aug '09
India stands to be one of the leading consumers of silk and silk products, and also is one of the biggest importer of raw mulberry silk.

However, Indian silk sector has gone through numerous tribulations in the interim and it seems to be gradually losing its sheen. Mounting pressures of global recession play its role in taking further toll on the industry.

Silk exports from India grew at a healthy rate in the first nine months of 2008-09 registering a growth of 12.6%. It soared from US $470.86 million in the first nine months of 2007-08, to $529.98 million in the same period of 2008-09.

Still, the performance of the Indian silk sector is not satisfactory comparatively; over its counterparts.
90% of India's silk products are made on handlooms.

Incomes of many weavers have been deeply affected due to the free market trends, following China's entry into the WTO. Despite that India is fighting for a foothold in the international market.

The fabric of royalty, and prestige, is deeply affected by the downturn, distressing the livelihood of thousands of weavers.

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Fibre2fashion News Desk - India

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