Despite a stronger rupee, silk exports have crossed the set target for the financial year 2006-07.
According to the latest data released by the Central Silk Board (CSB), apex body of the country?s silk industry, Indian silk exports in 2006-07 touched Rs 3,244.44 crore as against the set target of Rs 3,200 crore and up from Rs 3,194.20 crore fetched in the financial year 2005-06.
During 2006-07, exports of natural silk yarn, fabrics and made-ups declined to Rs 1,933.52 crore from Rs 2,228.88 crore a year ago, while that of readymade garments export earnings increased by 38% to Rs 1,164 crore from Rs 842 crore. The foreign exchange fetched through silk carpets also climbed by 20% to Rs 124 crore from Rs 103 crore a year ago, while export earnings through silk waste surged to Rs 22.10 crore from Rs 19.90 crore, a year ago.
The primary customer, the US, failed to import more silk products from India, but surprise orders from the UK, UAE and Saudi Arabia has helped the country to achieve its target, industry sources said. Although the US accounted for a major chunk of 25.8% in the total volume of silk exported from India, its business declined to Rs 838 crore from Rs 919 crore. However, orders from the UK increased by 15% to Rs 360 crore from Rs 313 crore, while the UAE imports from India climbed to Rs 198 crore from Rs 170 crore and Saudi Arabia to Rs 86 crore from Rs 66 crore.
The US, the UK, Italy, UAE and Honduras have emerged as the top five countries importing Indian silk goods and accounted for 25.8%, 11.1%, 6.9%, 6.1% and 6% of exports respectively.