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Indian carpet exports up 24%
18
Apr '11
All attributable to the rising demand from new markets like Latin America and Middle East, carpet exports from India, with a year on year rise of 24 percent soared to USD 653 million in 2010-11 from USD 525 million in 2009-10.

Apart from the new markets, considerable number of orders also kept flowing in from traditional markets like the US and the Europe, during the period.

Around 40 percent of the country's overall carpet exports during 2010-11 were towards Europe, 30 percent towards the US, 20 percent towards Middle East and 10 percent towards Latin America.

The segments which registered highest growth included, staple synthetic carpets which grew at a rate of 64.21 percent, silk carpets at 27.11 percent, handmade woollen tuffed carpets at 23.28 percent and handloom woven carpets at 22.87 percent.

Carpet exports with a rise of 27 percent jumped to USD 74.82 million in March 2011 as over corresponding period last year. They are expected to register a year on year rise of 25 percent in the current 2011-12 fiscal.

The global economic slump badly hit the carpet exports, which begun to revive since November 2009.

The sector serves as a source of livelihood for around 2.5 million people.

Fibre2fashion News Desk - India

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