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India's carpet exports post positive growth in July
28
Aug '12
Following rising demand from emerging markets like Latin America and China, India’s carpet exports soared six percent in July this year.
 
The exports grew from July 2011’s US$ 68 million to US$ 72 million in July this year, the Carpet Export Promotion Council (CEPC) data shows.
 
The Council said that exporters are receiving good orders from emerging markets like China, Africa and Latin America. However, demand from traditional markets like the EU and the US is still moving sluggishly, it added.
 
Employing about 2.5 million people, the Indian carpet sector each year exports over 60 percent of its produce to the EU and the US.
 
For current fiscal, CEPC expects the country’s carpet exports to touch US$ 1 billion, compared to last fiscal’s exports worth US$ 808 million. 
 
The categories that posted highest growth during July this year include handmade silk carpets which grew by 43 percent year-on-year, synthetic carpets which increased by 37 percent y-o-y and tufted carpets which rose by 6 percent y-o-y.
 
During the first four months of the current fiscal, India’s overall carpet exports plunged by almost six percent year-on-year to US$ 291 million.
 

Fibre2fashion News Desk - India

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