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CEPC lowers India's carpet export target for FY12
31
Dec '11
The Carpet Export Promotion Council (CEPC) has reduced India's carpet export target for the current fiscal from earlier fixed US$ 800 million to US$ 700 million.

The Council said export performance for the first half of the year was very good, but the waning exports in recent months has forced it to lower the export target, as the target set earlier this year now seems unattainable.

Growing vigorously at a rate of 24 percent, carpet exports touched the US$ 653 million mark during 2010-11, up from previous fiscal's US$ 525 million.

According to the CEPC data, India exported US$ 472.2 million worth of carpets during April-November this year, a US$ 58.24 million worth of which were shipped out during November.

The April-November period this year saw exports of handmade woollen carpets, draggets, rugs and daris rising to US$ 249.35 million, US$ 28.29 million, US$ 180.15 million and US$ 14.41 million respectively, the CEPC data noted. The data includes figures of exports of cotton carpets, handmade silk carpets, handmade woollen tufted carpets and handmade stable/synthetic carpets.

According to official data, the EU and the US respectively account for around 40 and 30 percent of India's overall carpet exports.

The CEPC added that performance of exports to the Latin American markets is good, but African countries impose heavy duty which raises the cost of carpets. Thus, if the duty aspect is taken care of, there will be ample opportunities for Indian carpet exporters in African markets.

Fibre2fashion News Desk - India

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