INDIA: Indian Silk Industry Hit by Chinese 'Quake'
Indian silk industry with an annual business of over Rs 10,000 crore has been hit hard by the last month's earthquake in China, a major supplier of raw silk for the manufacturing units in the country. The industry claimed that hundreds of units in Varanasi, Bangalore, Madurai, Coimbatore and Bhagalpur have closed…
Egytex News Desk
Egytex
Sichuan is the primary supplier of raw silk yarn and dupion to Indian manufacturers of silk products. Majority of the mulberry gardens have been destroyed due to the quake, which has led to a sharp fall in production in India.
"The earthquake and subsequent floods in Sichuan has affected the import prices of raw material, which have gone up by about 30-40 per cent," Indian Silk Export Promotion Council Chairman T V Maruthi said.
Source: The Hindu
From the Egytex news archive, first published on 29 June 2008. Figures and names are as reported at the time.
