Home / Knowledge / News / Textiles / Growth of wool industry affected by dipping demand
Growth of wool industry affected by dipping demand
24
Jul '10
With decreasing demand for wool and its products, the wool industry seems to be going through a rough patch.

As per data revealed by the Directorate General of Commercial Intelligence and Statistics, Kolkata, exports growth during 2009-10 was merely 3 percent, whereas during the 2008-09 fiscal, the industry registered a growth of 23.35 percent.

Dipping demand for wool and its products is the key reason behind the falling growth figures. Adding further to the sector's woes was the global economic downturn, informed a senior official from the Wool and Woollens Export Promotion Council (WWEPC).

However, this year, the industry is still experiencing a positive growth and hence, it is aiming at newer markets, informed this official. During 2009-10, wool and its products exports was worth Rs 22.62 billion, as compared to Rs 21.99 billion recorded in 2008-09.

Therefore, as part of their action plan for 2010-11, WWEPC has already spotted newer markets for exports of woolen products, such as Kazakhstan, Brazil and Muscat, among others.

Industry experts aver that, worries of exporters with respect to incentives such as duty entitlement passbook and duty withdrawal rates should soon be looked in to by the government, so as to help the wool sector move forward. More so, a suggestion seems to be doing the rounds of the market that, with the current global scenario, these incentives must be raised by 5 percent.

For the fiscal 2010-11, WWEPC has set an export target of US $630 million as compared to the 2009-10 target of $600 million.

Fibre2Fashion News Desk - India


Must ReadView All

Textiles | On 21st Aug 2017

GST payment & filing for July extended till Aug 25

The GST Implementation Committee, consisting of state and Central...

Textiles | On 21st Aug 2017

India’s cotton production may grow by 3.76% in 2016-17

India’s cotton production is likely to rise by 3.76 per cent to 345...

Textiles | On 21st Aug 2017

Telangana announces sops for textile, apparel sector

The Telangana government recently announced a string of incentives,...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search