The Average Annual Growth Rate Of The Indian Silk Industry Will Reach 6.40%

- Apr 21, 2018-

According to the Indian Parliament’s Minister Ajay Tamta recently stated in the Indian Parliament, Indian raw silk production for the 2017-2018 fiscal year is estimated at 33.84 billion tons (MT), compared with 30.348 billion tons in the previous fiscal year. He said that the silk industry's estimated average annual growth rate is 6.40%.

A press release issued by the Ministry of Textiles quoted a ministerial statement saying that the government had approved a project-based strategy for the northeastern region of India. The strategy aims to provide support to the Northeast Textile Promotion Program (NERTPS) to promote The economic development of the area.

He added that the projects under the plan may increase 2.285 billion metric tons of raw silk during the project period. About 230,000 residents will be provided with employment opportunities.