The Hindu Business Line : Australian Wool opens office in India

Australian Wool Innovation (AWI), an independent public company owned by Australian woolgrowers, has opened an office in India to step up the penetration of woollen products in the domestic market.

The company has appointed two permanent staff members at its New Delhi office to develop direct business relationships with key retailers and manufacturers in India.

Besides consolidating on India's status as a key emerging market for Australian wool, AWI plans to work with the Indian industry to support the export of Indian woollen product, the company said.

Australian growers currently supply about 60 per cent of India's raw wool imports, a large proportion of which is used in manufacturing clothing products.

Growing market

According to the AWI Chief Executive, Dr Len Stephens, the entry into India was because it has one of the fastest growing textile markets in the world, and this is a crucial step to capture this important market.

"India is already one of the most powerful economies in the world, with an estimated 350 million middle to high income earners currently. Demand for machine-washable clothes is also on the rise, as is demand for casual wear, outdoor clothing and leisurewear. This is an amazing opportunity to build demand for Australian Merino wool," he said, in a statement.

According to current estimates, about 29 million kg of clean wool is consumed every year in India.

AWI, which supplies bulk wool for processing in India at present, plans to increase the supply of more luxury woollen garments for domestic consumption. With an increased presence in the country, the company hopes to double its wool sales within India in three years.

Besides the new office here, AWI has overseas offices in Shanghai, New York and Hong Kong.