The recession in global markets has affected the silk sector to a considerable extent and some manufacturers say that sales have slipped by as much as 50 percent.
The key cause attributed by experts is the drop in tourist traffic as habitual foreign travelers tightened their purses and cut down on their foreign jaunts.
Tourist traffic used to help to a great extent to producers and traders alike, to generate sales of silk fabrics and clothing in this small East Asian country.
The only consolation is for those who diverted their focus to export of silk products and have been able to compensate to a little extent to the loss from tourist traffic.
Sales of silk products had touched US $2.7 million in the whole of 2008, against which sales had touched only $1 million in the first half of 2009.
Most of the silk industry has either closed down or is surviving on low operating capacities and if the situation continues, it could mean bad tidings for the sector.
Fibre2fashion News Desk - India
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
