Home / Knowledge / News / Textiles / Carpet exporters roll out for wider horizons
Carpet exporters roll out for wider horizons
03
Apr '08
The only way to counter slowing exports of carpets due to depreciation of dollar is to spot for new markets in South America, Australia and Africa.

Carpet exporters are increasingly looking out for markets other than US to keep away from the adverse effect of recession in the American economy. Countries like Brazil, Turkey, Spain and Argentina are steadily catching the eyes of this Rs4000 crore labor intensive cottage industry of India.

According to the Carpet Export Promotion Council (CEPC), about 65 percent of the total carpet exports of India were consumed by the US largely because these handmade, high variety rugs had a huge demand in the country.

But with the persistent appreciation of rupee by over 10.2 percent against US dollar in the past one year, has literally gnawed at the profits of the exporters by about 40-45 percent in the last 5-6 months.

Thereafter, in last 3-4 months, exports to the US have dropped to less than 49 percent of the total.

The 1,600 carpet units registered with the CEPC specializes in handmade rugs of silk and wool and engages some 3 million people. However, with profits getting marginalized due to low business, small manufacturing units are facing a closure.

However, despite the decline, exports in this fiscal year, has touched US $850 million and the country is planning to target $1 billion in the upcoming fiscal year.

In fact, experts believe that during the Domotex trade fair in Germany, Indian carpet sellers met with a good response from South America and it is hoped that such exposure to international buyers will surely open new markets for the country.


Must ReadView All

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search