India emerges a key growth market for Australian wool

A recent industry research tour led by broker-exporter Fox & Lillie highlighted India’s potential as a major market for Australian wool. Fox & Lillie’s general manager of export, David Martin, emphasized that India’s demand for all types of wool, ranging from fine Merino certified by the Responsible Wool Standard to crossbreds and cardings has increased since the Australia-India Economic Cooperation and Trade Agreement.

India already processes a significant volume of Australian wool, with an estimated 30-50 per cent of imports being re-exported as wool tops, yarns, or garments. However, its domestic market is also expanding rapidly, driven by a growing middle class and increasing manufacturing capabilities.

The research group visited key industry players, including Raymond Group, a leading manufacturer of worsted suiting fabric, which primarily processes raw Australian Merino wool. Stops at Mumbai’s Wool Research Association and Ludhiana’s Sharman Shawls showcased India’s investment in R&D and sustainable wool production.

The tour concluded with a networking event at the Australian High Commission in Delhi, attended by representatives from Global Victoria, Austrade, India’s Wool & Woollens Export Promotion Council, and other industry stakeholders, reinforcing the strengthening trade ties between the two nations.