August 1, 2008
After four years, Wool and Woollens Export Promotion Council (WWEPC), India, has reported a decline of Rs 124.01 crore in export of woolen products during April 2007 to February 2008, on account of rupee appreciation against the dollar.
"We have observed a dip of 6.84 percent in wool and woolen products exports after four years because of adverse impact of appreciation of rupee against dollar," WWEPC chairman Ashok Jaidka said.
While expressing concern over the decline in exports, he informed that the export of wool and wool-blended textile and readymade garments went down to Rs 1688.04 crore during April 2007 to February 2008 against Rs 1812.05 crore in the corresponding period a year ago.
Jaidka further said that on the request of the council, the ministry of textiles had approved the opening of a warehouse in Moscow, which would soon be set up.
"With the opening of the warehouse, members of the council can store their goods for ready supplies to their customers at a short notice," he said.
He added that WWEPC has finalized an ambitious export promotion program for 2008-2009, under which council would be sending trade delegations to Moscow, Almaty, Tashkent, Australia and New Zealand. Reprinted from Press Trust of India