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Related Keywords: affected medium sized manufacturers in Ludhiana and Amritsar, current FY, due to slowdown in demand, European Union and the UAE, exploring options, India likely to miss its target of wool and wool-blended exports, main export markets, moderation in commodity prices, set of USD six hundred ten million, the US, Woollen manufacturers

India is likely to miss its target of wool and wool-blended exports set of $610 million for 2016-17 due to slowdown in demand in its main export markets – the US, European Union and the UAE and moderation in commodity prices.

Punjab accounts for 35 percent of the total exports of wool and wool-blended products, followed by Maharashtra and Rajasthan. The slowdown in global demand has affected medium-sized manufacturers in Ludhiana and Amritsar.

Related Keywords: abolition of import duty, accounts for seventy percent, Australia, decline in woollen products exports, facing slowdown, Germany and China, increase duty drawback rates, planning to increase exposure in Kazakhstan, reduce dependency on the US and European markets, speedy release of drawback, total woollen exports of India, Woollen manufacturers

The woollen manufacturers are planning to increase their exposure in Kazakhstan, Australia, Germany and China concern over relentless decline in woollen products exports and also to reduce its dependency on the US and European markets, that accounts for 70 percent of the total country’s woollen exports which is presently facing slowdown.