Home / Knowledge / News / Textiles / Woollen, silk, handicraft worst hit in economic crisis

Woollen, silk, handicraft worst hit in economic crisis

26
May '10
As per data received from official sources, during the world economic crisis, textile products such as handicraft goods, woollen yarn, jute, cotton yarn, fabrics and silk faced worst dip in their overseas sales.

But as per the current figures, overseas sales of few jute items such as yarn, plummeted by more than 48 percent from the period, April – January 2009-10.

Exports of other textile goods such as handicrafts fell by over 22 percent, that of silk dropped by 16.35 percent, cotton yarn and fabric exports dropped by 22.69 percent and overseas sales of woollen yarn and fabrics slumped by 17.4 percent during the economic downturn.

But with this the good news is that, exports of raw cotton, silk waste, apparels from man-made fibres and man-made fibres per say aided in controlling the overall drop.

As compared to April – January 2008-09, this year during the corresponding period, exports in the sector fell by 2 percent touching $17.3 billion.

However, with the recovery of demands in the Western markets, government and industry sources are hoping that, exports in 2010-11 will increase to $24 billion.

According to A Sakthivel, President of Federation of Indian Export Organisations, inquiries for business deals are seen entering the Indian market again and industries are also foreseeing a rise in demand from the US in the next couple of months. Also, demand is alos picking up, although slowly, in the new markets such as South America and Japan.

Fibre2Fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Retail | On 19th May 2021

China's retail sales of consumer goods up 17.7% in April

As post-pandemic recovery is gaining pace in the world's second...

Pic: Shutterstock

Textiles | On 19th May 2021

Ikea and WWF renew partnership till 2025 to enhance biodiversity

Swedish home furnishings manufacturer and Worldwide Fund for Nature...

Pic: Shutterstock

Apparel/Garments | On 19th May 2021

New edition of Fashion CEO Agenda highlights priorities for industry

The new edition of the Fashion CEO Agenda has presented five...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Fashion tech has to be lean and very productive

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Nina Smith,

Nina Smith

GoodWeave International, a nonprofit working to end child, forced and...

Sanjay Jhunjhunwalla,

Sanjay Jhunjhunwalla

In the financial hub of eastern India, Kolkata, a humble production...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

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

Leave your Comments


May 2021

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


Advanced Search