Fox & Lillie research group highlights potential of Australian wool in India

Wool broker exporter business Fox & Lillie’s research group highlighted the potential of the Australian wool industry in India on its recent trip to the country and opined that Australia’s largest overseas trade prospect in India is raw wool.

“Fox & Lillie have touched down in India for a Wool Study Tour,” announced Fox & Lillie Rural on Facebook. “Led by Alister Carr from Fox & Lillie Rural Bendigo and Jeff Angel from our Wagga Wagga Wool Store, this tour group will have an unique opportunity to visit a variety of wool processing and garment production facilities (as well as experience some amazing sights, scenery and cuisine), gaining valuable insight into Australia’s second biggest wool customer.”

On the trip, Fox & Lillie’s general manager of exports David Martin announced that India has strong potential go become a more significant market for products including Australian greasy wool, Apparel Resources reported. Indian demand for numerous types of wool such as crossbreds, cardings, and fine merinos has also increased thanks to favourable trade rates under the Australia-India Economic Cooperation and Trade Agreement.

As part of the trip, Fox & Lillie visited a Raymond Group facility. As one of its customers, Raymond Group’s factory mainly processes raw Australian Merino wool and the business is a global specialist in worsted suiting fabric.

Many Indian garment and accessories manufacturers use Australian wool as a raw material and between 30% and 50% of India’s imported wool is subsequently exported as apparel, yarns, and wool tops, according to Martin. Moreover, India also has a sizeable domestic market for woollen products, fuelled by the country’s growing middle class.