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India achieves US$1bn carpet export target in 2012-13
11 Apr '13
1 min read
India has successfully achieved the US$ 1 billion carpet export target set for the last financial year.
According to the Carpet Export Promotion Council (CEPC) statistics, with a 12 percent rise over 2011-12’s exports of US$ 955 million, India exported US$ 1.07 billion worth of carpets during 2012-13.
CEPC Chairman Siddh Nath Singh attributed the rise in carpet exports to robust demand from new markets like China, US and Latin America, alongside traditional US market, Economic Times reported quoting PTI.
Mr. Singh said that the demand from the EU market, however, remained subdued during the year.
The EU and the US together account for around 60 percent of India’s overall carpet exports.
The segments that tapped highest export growth during last financial year include handmade silk carpets with 44 percent growth, handmade woollen tufted carpets with 23 percent growth and synthetic carpets with 17 percent growth.
Posting a year-on-year rise of 29 percent, exports of these items reached US$ 164 million in March 2013.
More than one million people in India depend on carpet export sector for livelihood.
Fibre2fashion News Desk - India
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