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Mr President, visting delegates, dignitories and friends,

I feel deeply honoured to be a part of this FORUM and on behalf of ‘DAMANI GROUP’ extend my sincere thanks to the organizers for inviting me on this occasion.
CCSE has become important for all International silk traders and nowadays practically all traders around the world follow the Jiaxing future market.

In the year 2001, China entered into WTO, that is when ‘DAMANI GROUP’ decided to open their first office in Gunagzhou and since then we have been establishing a very close relationship with all the Corporations, factories and suppliers in China.

Lately, we started feeling Future market can be the best source since they have deep access into the market and all the factories from all over China who do not have any expertise in marketing sell their product to future market making it the biggest platform for silk traders.

In the year 2005 we established our office in Hangzhou considering it as a big centre for silk also because it was very close to Jiaxing .

We have seen lots of ups and downs in Silk and various trade disputes between India and China. Inspite of all these, I strongly feel that the future of silk business between India and China will remain bright since Chinese silk is very high in quality and India being one of the biggest consumers will never stop buying from China.

Many factories here in this Forum are very anxious to know about the future of silk fabric after the Anti dumping duty is imposed, for them I would sincerely give my advice as follows.

Please do not do any over production of silk fabric as the scenario will change this year and exports of silk yarn will increase from China vis a vis exports of fabrics will reduce drastically . Whatever stock you must come out as soon as possible and do not hold it for long.

I see a huge demand coming in from India for Raw silk yarn hence be prepared to encash this opportunity and do not sell at lower prices as you will gain if you can hold it for sometime.

Many traders or manufacturers are afraid of new cocoon coming and think the prices will fall , on the contrary the prices of all item will firm up in June and I am expecting a great demand coming in from India hence there is no reason to panic.

I would be willing to know the procedures and formalities as to how a foreign dealer can apply for the membership and deal directly on the future market.

This forum has given us a great chance to know about the details of future market trading and an in-depth study as o how it is done. Hope we all can benefit from this in a big way and this will change our outlook completely and make our vision wider.

With these views, I would like to conclude my speech by thanking CCSE and Mr Liu in particular for organizing this event.