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Carpet exports surge in Q1 of fy 2010-11
14
Aug '10
Riding on the back of demand from newer markets like Russia and Dubai, India's carpet exports reported a growth of around six percent and stood at $53 million in July this year, over corresponding period of last year when it stood at $49 million.

Exporters intending to trim down their reliance on conventional markets like US and Europe are now surveying newer markets. They are branching out in budding markets like that of Dubai, Brazil, Russia and Australia to lessen reliance on the traditional markets. Also, as stated by the industry experts, a surge has been noticed in demand from the African countries.

Carpet exports are projected to grow by 25 percent to reach $650 million in 2010-11, year on year. Experts maintained that they have succeeded in retaining a growth rate of 25 percent for last three months, and were positive that this would persist.

Amongst the categories that depicted highest growth were handmade woollen tufted carpets with a growth rate of 8.33 percent, handmade woollen carpets with a growth rate of 7.11 percent and synthetic carpets with growth rate of 1.16 percent. Of the country's overall carpet exports, around 70 percent goes to the US and Europe.

Carpet exports, which were running negative since October 2008, once again started chalking positive growth rates from November 2009. The industry is a source of livelihood for around 2.5 million workers.

Fibre2fashion News Desk - India


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Courtesy: Business wire

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