The Hindu Business Line : Silk exports up 15 pc in Q1

Exports during April-June were Rs 488.91 crore as against Rs 482.30 crore in the corresponding period last fiscal, according to the figures released by the Indian Silk Export Promotion Council.

Silk exports in 2001-02 were down by 11 per cent to Rs 2,235.38 crore ($470 million) as against Rs 2,401.41 crore ($526 million) in 2000-01. However, the export target had been exceeded by 9.3 per cent. This year's export target is $450 million (Rs 2,176.2 crore).

The export of natural silk yarn, fabrics and made-ups witnessed a marked increase in April-June. The overall export was Rs 340.82 crore against Rs 296.75 crore last year. Exports to the US and Europe were steady and likely to increase next year.

However, Mr Subhash Mittal, Chairman of the Indian Silk Export Promotion Council, said export of readymade garments in April-June was lower by 16 per cent. This is a cause for concern to the silk industry, he said speaking at the council's AGM here on Friday.

He said that the council had taken efforts to streamline the procedures and had made several recommendations to the Government regarding formulations and amendments to the Exim Policy.

Mr Mittal said, ``some major problems have seriously affected silk exports and already had a serious impact, so much so, it is feared, that it will take about a year to be back on rails, even if corrective measures are taken.''

He added that the Government had resolved problems relating to the granting of DEPB on all exports of silk readymade garments before January 2001 and granted DEPB on exports of silk blends and enhanced the duty drawback on silk exports.

However, Mr Mittal said, the value caps for the export of silk products acted as disincentives to silk exports and was not in tune with similar products of other textile fabrics. The council's plea to rectify this anomaly had not been heeded.

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