India’s largest wool producer, Pink Wool, is set to sell its products in the US in a bid to reduce the cost of importing wool to the country.
The company’s president, Nandita Srivastava, told The Hindu that the move would lower the prices of its products.
“The cost of the product is not as high as we had thought, and there is a lot of room for improvement,” she said.
“We are going to offer products to US consumers that they cannot afford and that are going down in price.”
She said the company would not make any sales in India because the country is too expensive to produce wool.
India is India’s second-largest wool producer after Bangladesh.
It produces 1.8 million tonnes of wool a year, and the country’s annual consumption is about 8 million tonnes.
“There is a big gap between domestic demand and demand from the US, and this is a reason why our domestic demand has fallen.
We have made a move to reduce our production in the United States,” she added.
Srivastavava said that her company has been in talks with US firms about setting up a joint venture, but they have not yet reached an agreement.