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India's silk imports from china rise in value

India's silk imports from china rise in value Source: www.chinatexnet.com
Date: 19-03-2013
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India’s raw silk imports from China increased by 14.23 percent in value from imports worth Rs. 8.965 billion in 2010-11 to Rs. 10.242 billion in 2011-12.
 
However, in terms of quantity, there was a decline of 6.73 percent from 5,539 tons in 2010-11 to 5,166 tons in 2011-12, according to the information given by the Minister of State in the Ministry of Textiles, Smt. Panabaaka Lakshmi in a written reply in the Rajya Sabha, the Upper House of Indian Parliament.
 
During the current fiscal 2012-13, as per the latest provisional data, India has already imported 3,645 tons of raw silk from China worth Rs. 9.032 billion, the Minister said.
 
To reduce the dependence on China for raw silk and to promote the domestic sericulture industry, the Government of India in its Budget for the year 2013-14 has announced increase in the basic custom duty on silk imports from the existing level of 5 percent to 15 percent.
 
In addition, the Government of India through Central Silk Board (CSB) implements a Centrally Sponsored Scheme, viz “Catalytic Development Programme” (CDP), in collaboration with the State Sericulture Departments, under which financial assistance is provided to the stakeholders of silk industry.
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