India - Raw Silk (Not Thrown) - Market Analysis, Forecast, Size, Trends and Insights
India’s Raw Silk Exports Drop as More Supply Used Domestically
Silk is an integral part of India's life and culture. Due to the deep-rooted tradition of silk production, India can offer a vast variety of silk products, such as ready-to-wear garments, scarves and textile. However, one of the first things to spring to mind when talking about India is a saree. Saree is a unique Indian garment, strongly associated with silk. Having been the traditional women's costume since ancient times, sarees not only represent an outstanding value for cultural heritage, but they also serve as examples of impeccable mastery of local craftsmen.
In 2013, exports accounted for only 0.04% of India's raw silk output. A steeper decline in exports was registered, while import decrease was less notable. Due to low trade intensity, imports and exports should not be regarded as strong factors influencing India's market dynamics in the medium term.
Italy (68.3%) and the United Arab Emirates (12.6%) were the leading destinations of raw silk in 2013, together making up 80.9% of India's exports. The share of Italy increased significantly, while the share of the United Arab Emirates illustrated negative dynamics. The shares of the other countries remained relatively stable in this period.
In 2013, China and Uzbekistan were the main suppliers of raw silk with a combined share of 99.9% of total imports. Between 2007 and 2013, Uzbekistan had the highest growth rates of imports, with a CAGR of 7.5%. China and Brazil showed negative dynamics, dropping by -11.8% and -39.6% respectively over the last seven years. China remained the dominant supplier of raw silk into India.
Only in India all the five types of silk are produced, namely, Mulberry, Eri, Muga, Tropical Tasar and Temperate Tasar. Mulberry silk is considered to be the most popular silk type, and it accounts for 79% of India's silk production. The industry of sericulture is essential for the country, providing with employment around 7.63 million persons in rural and semi-rural areas. Among the people engaged in this industry, many of workers belong to less economically secure layers of society, and a great number of women are involved in silk production.
Source: IndexBox AI Platform
This report provides an in-depth analysis of the raw silk market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
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