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Indian handicraft exports rise despite slow demand
04
Oct '12
In spite of sluggish demand from key markets like the EU and the US, India’s handicraft exports posted positive growth during August this year.
 
According to the Export Promotion Council for Handicrafts’ (EPCH) data, India exported handicraft items worth US$ 497 million during August this year, 10 percent more than August 2011’s exports of US$ 452 million.
 
According to the Council, while demand from western markets like the EU is still moving slowly, Indian handicraft exporters are receiving many orders from other markets like Latin America, China and Africa.
 
Traditionally, over 60 percent of India’s overall handicraft exports are headed towards the EU and the US.
 
During the first five months of the current fiscal that started on April 1, 2012, India’s handicraft exports grew to US$ 1.2 billion, posting a year-on-year growth of 9.7 percent.
 
The items that posted highest export growth during the month of August include embroidered and crocheted goods that grew by 114 percent year-on-year, followed by hand-printed textiles and scarfs, whose exports grew by 59 percent year-on-year.
 
EPCH expects India’s handicraft exports to rise to US$ 3.2 billion during the current fiscal, as compared to last fiscal’s US$ 2.75 billion.
 
The handicraft sector serves as a source of livelihood to over one million people in India.
 
Jaipur, Jodhpur, Moradabad, Sharanpur and Narsapur are the key handicraft hubs in India that cater to the global markets. 
 

Fibre2fashion News Desk - India

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