Home / Knowledge / News / Textiles / Handicraft exporters eye unexplored markets
Handicraft exporters eye unexplored markets
25
Sep '09
As the demand for handicraft products from major markets such as the US and the EU are still very low due to recession, the Indian handicraft exporters are focusing on unexplored markets of South Africa and Latin American countries.

Mr. R. K. Malhotra, Chairman, Export Promotion Council for Handicrafts (EPCH) Asian Handicrafts CMD said that the exporters are looking at new markets with strong demands to make up the losses occurred due to fall in demands from major markets.

In respect of exploring new markets, Handicraft exporters have also been encouraged by the Foreign Trade Policy (FTP) of 2009-14. The policy offers provisions to consider all handicraft exports as special focus products that attract an incentive of 5 percent duty credit scrip.

In addition to this, more 52 items have been included in these special focus products and the market-linked focus product scheme has also been expanded. EPCH will organize exhibitions and buyer-seller meets in unexplored markets such as Argentina, Croatia and Hong Kong soon.

These meets would be organized with a view to offer exposure to the exporters in new markets and to generate business. EPCH usually organizes around 32 such meets in a year, but this year it would organize around 40 buyer-seller meets, informed Mr. Malhotra.

Handicraft products have much importance in FTP and the handicraft exporters also avail benefit of around 5 to 10 percent which allows them to lower down the prices of products.

Indian handicrafts experience highest demands from the US market and it accounts for 32 percent of overall exports of Indian handicrafts and the EU markets buys around 22 percent of overall exports from the sector.

But consumers in the US have sharply reduced the expenditure on handicraft items on account of recession which turned it into the worst affected sub-sector in the whole textile industry.

Exports, slipped down by 24.58 percent to $789.30 million in the first five months of the current fiscal (2009-10) and had contracted by 48.35 per cent to about $1.8 billion in the previous fiscal (2008-09).

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Marazban F Velati
Sutlej Textiles & Industries limited

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

Paolo Ocleppo
Sandvik Hyperion

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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