Home / Knowledge / News / Textiles / Hong Kong - the new leading importer of Indian silk
Hong Kong - the new leading importer of Indian silk
24
Dec '10
The statistics available with the state-run Central Silk Board (CSB), the apex body of Indian silk industry, revealed that, during the initial three months of the current fiscal year the country exported Rs 893.7 million worth of silk to Hong Kong, and Rs 824.2 million worth of silk to the US. Thus, with such high imports Hong Kong has replaced the US to become the biggest importer of silk from India.

The country's silk exports to the US and Hong Kong during the corresponding period last year stood at Rs 1.0278 billion and Rs 1.0176 billion, respectively. Though, silk exports to the US have been decreasing over the last three years, but still it remained to be the biggest importer of silk from India, till last fiscal.

Exports to the US went down from Rs 5.36 billion in 2008-09 to Rs 4.17 billion during the last fiscal, but still it was 14 percent more than the Rs 3.66 billion worth of exports to Hong Kong during last fiscal.

US has remained the biggest export market for silk exporters from India, but then in 2007-08 as the value of rupee depreciated against dollar, the exporters from India reduced their exports to the US, as their price realisations witnessed a fall of around 20 percent. This has caused the US buyers to shift to Chinese markets for fulfilling their silk requirements.

India exports various silk items such as fabrics, readymade garments, natural silk yarn, made up, silk carpets, and also silk waste. The country in the initial three months of the current fiscal exported natural silk yarn, made up and fabrics valuing Rs 3.08 billion. While it also shipped ready to wear garments, silk waste and silk carpets worth of Rs 2.57 billion, Rs 56.1 million and Rs 25.7 million respectively, during the period.

Next to the Hong Kong and the US, UAE, the UK and Germany are the other leading importers of silk products from India. The Ministry of Textiles has fixed a target of exporting Rs 43.25 billion worth of silk products during the current financial year, but according to the experts, considering the present situations, the country is not likely to achieve this target.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Johan Berlin
InvestKonsult Sweden AB

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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