Though many promotional measures have been taken by Indian Government to reduce silk imports, it has been increased 24.6 percent to Rs1,732.87 from Rs1,391.18 crore in fiscal year ended March 2006, according to data revealed by Central Silk Board.
India imported raw silk about 8,334 tons, up 4.9 percent compared to last year figure of 7,948 tons. From the total raw silk import, China alone has exported 8,116 tons from 7,243 tons a year ago registering a rise of 12 percent.
China's foreign revenue through silk exports amounted to Rs758.68 crore, rise of 36 percent.
Silk imports have reported rapid rise even after Indian Government imposed anti-dumping duties on Chinese raw silk material three years ago. Moreover, Director General of Anti-dumping (DGAD) has imposed anti-dumping duties on silk fabric also.
Government's decision of imposing anti-dumping duties on Chinese silk proved beneficial to sericulture farmers as prices of Chinese silk rose from Rs767 kg to Rs932 per kg a year ago.
If India wants to reduce dependence from Chinese silk, domestic production should be 25,000 tons from existing 17,000 tons, industrial experts stated.
Earlier China was exporting silk at very lower prices but seeing the rising demand in Indian market, it is expected that prices of silk would be up.
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