Silk Export Promotion Council Sees $330 Million Sales
September 24, 2001
Mumbai – The India Silk Export Promotion's (ISEPC) prime objective is to promote and regulate exports of natural silk goods. Over 2000 companies as its members, export silk textiles to more than 100 countries. For four decades, dupion silk as cushion covers woven in handloom have made a lasting impact in Europe as well as in U.S.A. While the exports to Europe took a beating in the mid 1990s due to recession, the need to find new markets and produce more innovative products became necessary for survival. However silk exports have been growing for two years and increased 30 percent during 1999, thanks to the buoyant American market and the revival of silk import.
P. Jacob Samuel, chairman of the Mumbai-based ISEPC, said that silk exports for the year 2001 could break $330 million. "The council has been a catalyst in the growth processes on two important counts and the growth will surge," according to P. M. Govande, ISEPC executive director. Govande said the council strategies tried to capitalize on industry trends, including the growing demand for silk in theU.S.A. and Europe.
Another trend is innovation among Indian exporters. In the home furnishing sector, several companies have invested in modern machinery. Furthermore as Indian silk producers have improved their design capability and invested in CAD systems they are catching up, at least technically with Italian silk producers. The Indian goods will cost less, however.
But branding of Indian silk products is distant as the marketing channels are confined to the domain of the importing countries. The ISEPC on its part focuses on dissemination of market information. "We participate in several textile exhibitions all over and market understanding and feed back is analyzed seriously," he said. Trade shows give the ISEPC exposure to buyers and provide the council a venue for distributing information about silk applications for home furnishings, he added. In the past, the council has also conducted buyer-seller meetings in Latvia and South Africa.
"The silk segment is small - less than a half percent of the world's consumption of fibers and facilitating new contacts to exporters are the councils prime importance," he said. Flow of information regarding the export policies of government, liaison with related departments, is done on an ongoing basis. The council has set up a new regional office at New Delhi, too.
Silk export is an important activity for the Indian economy, especially in terms of employment. And by giving annual awards, the council recognizes silk exporters and encourages them to increase exports. By participating in TIP in Belgium the council expects to make new contacts for upholstery and curtain fabrics.
P. Jacob Samuel, chairman of the Mumbai-based ISEPC, said that silk exports for the year 2001 could break $330 million. "The council has been a catalyst in the growth processes on two important counts and the growth will surge," according to P. M. Govande, ISEPC executive director. Govande said the council strategies tried to capitalize on industry trends, including the growing demand for silk in theU.S.A. and Europe.
Another trend is innovation among Indian exporters. In the home furnishing sector, several companies have invested in modern machinery. Furthermore as Indian silk producers have improved their design capability and invested in CAD systems they are catching up, at least technically with Italian silk producers. The Indian goods will cost less, however.
But branding of Indian silk products is distant as the marketing channels are confined to the domain of the importing countries. The ISEPC on its part focuses on dissemination of market information. "We participate in several textile exhibitions all over and market understanding and feed back is analyzed seriously," he said. Trade shows give the ISEPC exposure to buyers and provide the council a venue for distributing information about silk applications for home furnishings, he added. In the past, the council has also conducted buyer-seller meetings in Latvia and South Africa.
"The silk segment is small - less than a half percent of the world's consumption of fibers and facilitating new contacts to exporters are the councils prime importance," he said. Flow of information regarding the export policies of government, liaison with related departments, is done on an ongoing basis. The council has set up a new regional office at New Delhi, too.
Silk export is an important activity for the Indian economy, especially in terms of employment. And by giving annual awards, the council recognizes silk exporters and encourages them to increase exports. By participating in TIP in Belgium the council expects to make new contacts for upholstery and curtain fabrics.
