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India:Silk exports cross $500 mn |
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2004-11-30
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India''s silk textile exports were valued at around US$ 561 million during fiscal 2003-04.
As per the recent release of D & B India Trade Outlook, the exports, mainly comprising yarns, fabrics, made-ups, carpets and readymade garments, grew at a compounded annual growth rate (CAGR) of 11 per cent between 1997-98 and 2003-04 and the main impetus came from fabrics, it informed.
US, UAE, UK, Hong Kong and Germany, were the top five destination countries, accounting for 60 per cent of India''s exports of silk yarn, fabrics and made-ups in fiscal 2004.
Exports in the silk yarn, fabrics and made-ups category were valued at 371 million US dollars for fiscal 2004 and recorded a CAGR of 13 per cent from fiscal 98.
As for exports of silk fabrics and made-ups, UAE emerged as the second most important destination, dislodging traditional partners like Germany and the UK. Exports to the emirates recorded a CAGR of 28.4 per cent during 1997-98 to 2003-04 while it was 3.2 per cent for Germany and 6.4 per cent for UK.
Also, exports to UAE surged at a CAGR of 40 per cent during this period, making it the second largest destination for export of readymade garments.
Readymade garments'' exports were valued at 163.8 million US dollars for fiscal 2004. It recorded a CAGR of 9.6 per cent since 1997-98. The main destination for these exports were US, UAE, UK, Italy and France with the US accounting for a share of 26.4 per cent, the largest in this category. But it witnessed a stagnant trend during 1997-98 to 2003-04. |
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