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India''s wool industry shows positive trends |
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2004-7-13
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Reports indicate that the Indian economy was gaining strength as per the economic data released for the final months of the fiscal year 2003/04 ended fourth quarter (January-March) and appears to be strong. Being the third largest customer for raw wool from Australia, India expanded at its fastest pace in 15 years.
With the Indian industrial production growing at a very fast pace during the year, attributed mainly to booming exports, cheaper credit and rise in farm incomes, which peaked the demand for manufactured goods.
Not to lag behind was India''s wool textile industry witnessing a rising trend. It appears that the decline in activity levels seen over the last two years bottomed out and a watchful but positive aura prevails.
Rundown in stocks occurred due to high wool prices and increased wool blending in the Indian wool industry. Later months saw wool prices declining in rupee terms.
In India, even the dominant cotton industry found price competition from polyester and viscose fibres tough on the domestic market, as man-made fibre capacities progressively expanded. |
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