49th Annual General Meeting of Wool & Woollens Export Promotion Council held in New Delhi

New Delhi, September 30, 2016: The 49th Annual General Meeting of the Wool & Woollens Export Promotion Council (Ministry of Textiles, Govt. of India) held in New Delhi on 29th September, 2016 to adopt Annual Report, Audited Balance Sheet & Accounts for the year 2015-16 and to elect members to the Committee of Administration of the Council.

Shri Sushil Kaura, Chairman welcomed members of the Council present at the meeting. Shri Kaura in his speech informed that the exports of wool and wool blended products were Rs. 3012.84 Crores (US$ 461.64 Million) showing decline of 3.20% in rupees terms and 9.42% in dollar terms during the year 2015-16 as compared with the corresponding year 2014-15 as per the data released by the DGCI&S, Kolkata. The export target fixed for the year 2015-16 was US$ 610 Million.

The exports during April to July 2016 were valued at Rs. 955.38 Crores (US$ 142.54 Million) shown decline of 11.75% in rupee terms and decline of 16.38% in dollar terms.

The main reasons for decline in exports are global slowdown especially in EU & USA which are the main markets for Indian woollen products. In addition to these obstacles, the constant global warming, reduction in severity of winter also play vital role in decline of export of woollen products. The decline in exports of is a matter of deep disappointment and concern requiring urgent action from the government. The woollen industry feels that there is immediate need of Government support like increase in duty drawback rates, speedy release of drawback, abolition of import duty on raw wool and textile machinery/spare parts and consideration of special package to boost the exports.

Shri Kaura also informed that the Council successfully participated in Central Asia Fashion Exhibition held in Almaty (Kazakhstan) from 18th to 20th Sept., 2016 with fourteen member-exporters under the leadership of Shri Rajneesh Ghai, Vice Chairman of the Council. The Embassy of India in Kazakhstan provided full support for making the participation successful.

As a step to promote the exports, the Council is also participating in international exhibitions in Australia, Germany and China during current financial year under Government scheme.
Shri Kaura congratulated the elected members and thanked the gathering for sparing times for attending the meeting.