Wool and woolen garment exports from India have dipped, thanks to the ongoing debt burden in Eurozone, according to a fibre2fashion report.
Ashok Jaidka, Chairman, Wool and Woolen Exports Promotion Council said: "Wool and woolen apparel exports are not doing well currently and the orders have declined by around 25-30 percent, mainly owing to the economic uncertainty in Europe and America".
Asked about the benefit to exporters due to declining value of Indian rupee, the official said that the weak rupee had not benefitted the woolen clothing exporters because most of the material used in making the garments was imported. These imported raw materials too become expensive along with currency depreciation.
In order to contain the dip in woolen garment exports, WWEPC is emphasizing on exploring new markets. “Our exporters are participating in various exhibitions in Russia and some African countries to study and explore the new markets there. The exports to these destinations have started, but not in a big way. These countries are not so strong economically, hence we do not get big orders from these places,” Jaidka added.