Total exports of silk products during the year 2006-07 increased marginally by just 2% at Rs 3,244 crore over Rs 3,194 crore in the previous year 2005-06, according to the Indian Silk Export Promotion Council (ISEPC).
Export of silk readymade garments continued to increase to Rs 1,164 crore as against Rs 842 crore, by registering a significant growth over the previous year by 38% in rupee terms and 43% in dollar terms, while exports of natural silk yarn, fabrics, and made-ups have shown a decline of 13% to Rs 1,934 crore for the year 2006-07 as against Rs 2,229 crore in the previous year.
In terms of dollars, exports were about $755 million as against $721 million, about 4.7% more than the last year?s exports. The target fixed for the year 2006-07 was $700 million. Exports have achieved the target and registered a decrease of 13%.
?The rupee has appreciated by over 10-14% against the dollar since January 2007, and has had a sharp impact on employment in the industry and in the silk products manufacturing industry, in addition to the decline in the export business turnover,? MV Maruthi, chairman ISEPC said.
The upward revision in drawback rates notified in July 2007 is highly inadequate to compensate exporters against currency appreciation. The DEPB rates have been increased by only 2-3% as against 5% announced earlier, that has not even been operational, he said.