India'S Silk Exports Dropped By Nearly Half In The Financial Crisis

Bangalore: Hanumanthappa, chairman of India's Central Silk Bureau, said in a speech at the opening ceremony of the silk Expo on Thursday that India's silk exports dropped by more than 50% due to the global recession.

Hanumanthappa said that the shrinking demand from major importers such as the US and the EU had a negative impact on India's silk exports.

In his speech, he advocated that the government should take the initiative to reduce the burden on the silk industry.

Hanumanthappa said cotton and linen have been included in the minimum protection price and subsidy system. It is suggested that the government adopt the lowest protective price policy of cocoon as soon as possible to save the whole industry.

This year's domestic silk production has increased by 10-12%. The silk anti-dumping policy introduced by the government has contributed to the steady development of the industry.

The anti-dumping duty, which began in 2003, expired last year. The central silk board, through its efforts, extended the anti-dumping duty for another four years and will take effect from January 2009.

Speaking at the opening ceremony, Governor Rameshwar Thakur, the chief of the state of konarch, revealed deep concern about the phenomenon that silk was sold as genuine silk. He thought it would seriously damage the real consumption of silk.

A total of 82 exhibitors from 13 states participated in the silk Expo.

Yang Jing: editor in charge