Imported silk: Team to urge withdrawal of customs duty cut

At a press conference here on Friday, the minister said sericulturists in the State have been severely hit due to fall in prices of raw silk and cocoon, thanks to entry of Chinese silk in the market.

Of the total production of 7,330 tonnes of raw silk yarn in the country, the State accounts for 60 per cent.

However, the Centre’s decision to cut the customs duty from 30 to five per cent on all grades of silk imported had resulted in a slump in the market, he observed.

Market intervention

To make matters worse for farmers, purchase of raw silk from markets in Dharmavaram in Andhra Pradesh and Surat in Gujarat has also declined, he said.

The government has so far released Rs 17 crore for market intervention through the Karnataka Silk Marketing Board, the minister added.

Gowda further said the government has already submitted a memorandum to the Centre to ban import of China silk.

Massive rally on June 14

At another press meet, Karnataka Prantha Raitha Sangha State general secretary Bayya Reddy said thousands of sericulturists from across the State will hold a massive rally in Bangalore on June 14, seeking immediate intervention of the government to increase the prices of cocoon.