Now, it is the silk industry sector that India and China plan to jointly tap the global market.

A top delegation from Chinese silk industry visiting India this week has sought increased co-operation from the Indian silk industry to tap the world markets jointly.

The delegation from the Chinese silk industry comprising members of China National Silk Association, China Silk & Trading Corporation and China Council for promotion of international trade (Hangzou sub-council) is currently in India to improve trade relations.

At a seminar in Bangalore, Qian You Qing, Secretary-General of the China National Silk Association said that while China produces silk in large quantities, India is good at converting raw silk into products.

"I think, together, India and China can do better than competitors and address the world market jointly," he said.

Although China continues to hold its position as the world's largest silk producer and exporter, there has been an alarming decline in the country's silk exports this year.

Customs statistics indicate that silk exports dropped by 16 per cent to US$1.1 billion for the January-to-June period last year, with some major varieties suffering an even deeper dive.

Countries like India, Thailand, Viet Nam, Brazil and Nepal have made large capital and technological investments to support their silk industries, breaking China's monopoly of the trade.