Australian wool industry and India in talks to drive already burgeoning growth

An Australian-Indian wool roundtable in Melbourne in late November and a visit by WoolProducers CEO Jo Hall to India are among the latest engagements, with more on the cards.

A surge in demand for both raw wool and woollen products saw Australian wool exports increase by 26 per cent in the 2022 to 2023 financial year to 21.6 million kilograms, the highest since 2016.

India produces approximately 40 million kilograms of wool annually and imports about 30 million kilograms in total.

About 80 per cent of the woollen products exported from India are carpets, but the nation also exports ready-made garments, yarn, fabrics and more.

The removal of tariff's for Australia's raw wool under the Australia-India Economic Cooperation and Trade Agreement is already being lauded for being a driver behind the increased exports, which valued $198.9 million.

Ms Hall said her visit in late October was to engage with key government and industry stakeholders and explore trade expansion and risk mitigation opportunities.

"The visit proved integral in further strengthening our ties with India," she said.

"A roundtable held in Delhi on October 25, 2023, aimed to strengthen collaboration and explore opportunities for cooperation in the wool sector, marking the second in-country meeting in just seven months".

Ms Hall said there were even more discussions planned, with India inviting Australia to attend Bharat Tex 2024 in February and talks of a reciprocal visit to Australia mid-year.

"The potential demand for wool in India presents a significant opportunity for the Australian wool industry to expand its market share," she said.

"With the support of the ECTA, the Australian wool industry could establish itself as a reliable supplier and contribute to the growth of India's woollen sector."

November saw a large Indian delegation, comprising senior industry and government representatives, attend the Global Sourcing Expo in Melbourne, with another Australian-Indian Wool Roundtable held to coincide with the occasion.

Two days before the roundtable, WoolProducers president Steve Harrison, hosted Indian Wool and Woollen Exports Promotion Council chairman Romesh Khajuria and Indian government delegate Arvind Kumar, on a day trip to the Australian Wool Testing Authority, the Melbourne Wool Selling Centre and out to "Redesdale", Bendigo to observe shearing and wool classing.

"It was a wonderful opportunity to host some of our Indian colleagues and show them Australia's world leading practices in terms of wool testing, standards, shearing and classing," Mr Harrison said.