Recession takes shine off Bihars silk industry

February 23rd, 2009 - 4:25 pm ICT by ANI  

Bhagalpur (Bihar), Feb 23 (ANI): The silk industry in Bihar is losing its luster and shine due to a global economic meltdown.
The consequences of drying market are staring at many silk weavers looking for alternative sources of livelihood.
Many factories in Bihars Bhagalpur district have now been shut down and weavers have moved to other cities in search of employment. While some are selling vegetables and doing labour works to earn their livelihood.
“Earlier, I used to run around four looms but now due to recession I am now selling vegetables on the road. Things have turned from bad to worse,” said Mumtaz Ali, a former silk weaver.
“The silk material made in Bhagalpur is mostly used in furnishing, which again is very much sought after in America. But now due to the economic slowdown, the export of Bhagalpur silk has also gone down,” said Manoj Aggarwal, an exporter.
Even as the Indian silk industry has been fighting for a foothold in the international markets and fends off China companies, the global economic meltdown seems to be playing spoilsport as the exports have gone down considerably. (ANI)

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