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Carpet exports jump 181pc in June
16
Jul '11
Riding on the back of soaring demand from emerging markets like Latin America and China, carpet exports from India registering a year-on-year rise of 181 percent jumped to US$ 10.1 million in June 2011, over last June's US$ 3.6 million.

Though good demand kept flowing from the new markets, demand from traditional markets like the US and the Europe is yet to improve.

Around 55 percent of India's total carpet exports is to the US and Europe, while Middle East and Latin America each account for 20 and 10 percent share respectively.

The segments which registered highest growth included synthetic carpets which grew at a rate of 50 percent, tufted carpets at 350 percent and silk carpets at 250 percent.

On a monthly basis, however, carpet exports plummeted heavily from US$ 73 million in May to US$ 10.1 million in June.

The exports rose by 17 percent to US$ 140 million in the first quarter of the current fiscal, over corresponding period last year.

Value-wise the country's carpet exports for the current fiscal are expected to reach US$ 800 million. The exports during last fiscal registering a year-on-year rise of 24 percent stood at US$ 653 million.

The sector currently serves as a source of livelihood for around 2.5 million people.

Fibre2fashion News Desk - India

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