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Handicraft exports witness 19% growth in May
29
Jun '10
In the month of May this year, handicraft exports of India stood at over US $154.16 million against the corresponding period last year, recording a 19 percent growth due to the increase in demand from US.

Similarly, exports of handicrafts from India during April this year had also increased by 16 percent to $179 million as against exports worth $154.78 million during the corresponding period, last year.

As per the data from Export Promotion Council for Handicrafts, country's handicraft exports were accounted to $129.6 million during the same period last fiscal, as the demand from US was very low, owing to the economic slump.

However, US buyers are now demanding good volume of handicraft items, as they are running out of stock, said The Chairman of Export Promotion Council for Handicrafts, Raj Malhotra.

Indian handicraft exporters are focusing at new markets like Latin America, along with key markets like US and Europe. Latin American and Chinese markets have started placing orders for Indian Handicraft items, informed Malhotra.

Jewelry, wood-ware, shawls, zari and zari products and art metal-wear are among those handicraft products, which recorded maximum growth by 26 percent, 24.27 percent, 22.39 percent, 19.23 percent and 17.07 percent, respectively.

Handicraft exports witnessed positive trend in September 2009 after facing 11-month contraction since October 2008. It registered 160 percent increase in September 2009 against the same month last year.

Around 70 percent of the country's handicraft exports are sent to the US and EU markets. The key handicraft hubs of the country include Moradabad, Jaipur, Saharanpur, Jodhpur and Narsapur, which provide handicrafts to the world markets and offer livelihood to almost 1 million people.

Fibre2Fashion News Desk - India

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