India’s exports of silk products have risen by about a fifth during the April-January period of financial year 2023-24 on rise in overseas demand for fabrics, made-ups and readymade garments from markets such as the United States and Europe..
Silk goods exports stood at ₹1534 crore during April-January period of 2023-24 as compared to same period last year’s ₹1269 crore. In dollar terms, the exports were up around 16 per cent at $185.42 million over same period last year’s $159 million, as per the provisional official data .
Exports of silk ready made garments were up 16.27 per cent at ₹648.55 crore (from ₹557.79 crore in the same period last year). The shipments of fabrics and made ups were up nine per cent at ₹492.81 crore (from ₹451.63 crore).
The exports of silk wastes registered an increase of 85 per cent at ₹275.93 crore (from ₹149.27 crore), while the demand for silk carpets was a tad higher at ₹79.03 crore (from ₹76.37 crore).
Raw silk exports registered a major growth at ₹8.35 crore (from ₹0.60 crore). However, the exports of silk yarn saw a decline of around 11 per cent during the period at ₹29.67 crore (from ₹33.23 crore).
Meanwhile, the imports of raw silk into the country has reduced by about a third during the April-January period of the financial year 2023-24 at 2,348 tonnes over same period last year’s 3,474 tonnes.
The value of raw silk imported into the country fell 30 per cent to $134.13 million during April-Jan 2023-24 from $192.26 million in the same period last year.