2008-09 fiscal year silk exports are likely to reduced by 50%

India’s Central Silk Board chairman Mr. Hamunamthappa said that economic deterioration and its attendant economic downturn trend will impact all sectors. Silk booming export enterprises will also be hit. 2008-09 fiscal year silk exports may be reduced by 50%.

He is very sure that: “In time of an economic downturn, silk industry and textile industries, are vulnerable to injury, hope that the United States after the new government took office, the situation will get better, despite the recent and not too optimistic about long-term, demand will be 6-9 months after the turn for the better. ”

In view of last year (2007-08) silk exports reached 26 billion rupees, so this year, exports decreased by 21%, silk Committee is expected this year, exports about 13 billion rupees. The beginning of the year, the Commission forecast the export figures for the 38 billion rupees.