Laugh in the Box: India Seizes Golden Opportunity in Silk Trade Videos

Added: Dec 1, 2008

From: NTDTV

Duration: 1:47

CHEN:The Indian silk industry in northern Varanasi is trying to regain foothold in international markets as China imposes restrictions on the export of silk products. The recent earthquake in Sichuan province destroyed the majority of mulberry gardens in the area. As such, China is unable to meet its domestic requirements. Here's more.STORY:Indian traditional silk sari makers in northern city of Varanasi are feeling optimistic about their business prospects. They hope to capture the foreign markets that China had virtually monopolized with the export of cheap silk products.[Arun Agarwal, Silk Exporter]:"The moment we received the news that China has banned its silk exports, we were very happy. We think we can regain our market that we had lost due to the adverse rupee-dollar equation, coupled with the attractive prices of the Chinese products that threw us out of the market. We should use this as a golden opportunity, work full time, fully utilize our resources and we should try to capture the American and the European markets, we will not get such a golden opportunity again."Other exporters feel that they can now make their presence felt in the South Asian markets where China has been dominating.[Mukund Agarwal, Silk Exporter]:"China dominates the South Asian markets completely. If we export like some 1000 items, they export 100,000 items. This is a very good time for us to reverse the situation so that people recognize our quality and do not fall for the cheaper prices of Chinese silk products."Traders say with synthetic-mixed silk saris available at cheaper rates in the market, consumers are often dissuaded to buy pure silk saris, as they are unsure of the quality.

Channel: Travel

Tags: china  india  industry  markets  news  ntd  ntdtv  sari  sichuan  silk  south-asian  varanasi 

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