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India's handicraft exports surge in November
12
Dec '12
Spiralling demand in western markets such as the US, has stirred a spectacular 42 percent rise in India’s handicraft exports, which surged to US$ 106 million during November this year compared to exports worth US$ 74.6 million during November last year, Export Promotion Council for Handicrafts (EPCH) data shows.
 
According to EPCH, though the demand from the EU market has yet not gathered momentum, the Indian handicraft industry is experiencing high demand from the US and China.
 
Traditionally, the EU and the US together account for around 60 percent of India’s handicraft exports. However, the Indian handicraft exporters are presently also trying to promote and create demand for their products in new emerging markets of Latin America, CIS countries and the Middle East.
 
With a year-on-year growth of 124 percent, shawls and artware turned out to be the most exported item during November.
 
The sector’s exports for initial eight months of the current fiscal grew to US$ 1.6 billion, which is 18.3 percent higher than exports registered during the same period last year.
 
EPCH foresees the sector’s overall exports for current fiscal at US$ 3.2 billion, as against last fiscal’s exports of US$ 2.75 billion.
 
Saharanpur, Narsapur, Moradabad, Jodhpur and Jaipur are India’s key handicraft centres, providing employment to about one million people.
 

Fibre2fashion News Desk - India


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