Home / Knowledge / News / Textiles / Recession takes its toll on handicraft exports from Kashmir
Recession takes its toll on handicraft exports from Kashmir
27
Aug '09
Kashmiri handicrafts experienced a plunge in export orders, due to global economic slowdown, by about 41.23 percent during the fiscal 2008-09 against an export of Rs. 1200 crores in 2007-08.

Exports to European Union, the biggest consumer of Kashmiri handicraft products, have contracted deeply because of recession. The European Union consumes almost 60 percent of all exports.

Carpets that comprise 50 percent of Kashmiri craft exports have also been impacted drastically by the recession, said Mr. Hamid Punjabi, the Secretary General and Spokesman, Kashmir Chamber of Commerce and Industry (KCCI).

Carpet exports during 2008-09 were valued at Rs. 326 crores, down by almost 50 percent of the sales achieved in 2007-08, which stood at Rs. 649 crores. Shawl Industry is the second highest hit industry that recorded a loss of Rs. 90 crore in its overseas sales. In the year 2007-08, woolen shawls such as Pashmina, Kani and Sozni saw exports worth Rs. 310.29 crores, against just Rs. 226.50 during 2008-09.

However, there was a surge of Rs. 8 crores in overseas sales of Papier Mache. Kashmir sold Rs. 41 crore worth of Papier Mache items in the international markets during 2008-09 against exports of Rs. 33.65 crores in 2007-08. But, other craft products like woodwork, chain stitch and crewel slipped down by Rs. 95 crore.

Traders made efforts to explore new markets in Africa and other regions for Kashmiri handicrafts but it did not create an impact, said Mr. Punjabi. Europe is expected to witness economic recovery soon, and by the end of ongoing fiscal year, trade will begin to pick up, expect exporters.

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 24th Jun 2017

JD enters into strategic partnership with Farfetch

E-commerce giant, JD, China's largest retailer, and Farfetch, the...

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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