Home / Knowledge / News / Handicraft / Indian handicraft exports experiences slowdown in Q1

Indian handicraft exports experiences slowdown in Q1

19
Jul '12
Indian handicraft industry witnessed a slow export growth during the first quarter of the current fiscal, which is mainly due to slump in demand from the Western markets, particularly from the EU and the US.
 
According to the provisional data released by the Export Promotion Council for Handicrafts (EPCH), a nodal agency for promotion of Indian handicrafts, handicraft exports from the country increased by US$ 36.41 million from April-June 2011’s US$ 555.22 million to US$ 591.36 million during April-June this year, which is a meagre rise of 6.51 percent.
 
However, when calculated in terms of the Indian currency, exports grew strongly during first quarter of the current fiscal from April-June 2011’s Rs. 24.93 billion to Rs. 31.86 billion, showing a year-on-year rise of 27.78 percent.
 
According to experts, deceleration in Indian Rupee has helped the sector’s exports.
 
Though demand slowdown in key western markets like the EU and the US are holding back the country’s handicraft export growth, EPCH is eyeing good potential emerging markets like Africa, Middle East and Latin America and it expects the sector’s export growth rate to rise on its own in the coming months.
 
EPCH said that despite financial slump in West Europe, it is making all efforts to achieve the current fiscal’s handicraft export target of US$ 3.3 billion.
 
As per the EPCH data, shawls as artwares were one of the highly sought after items in the export market and its exports grew by 28.92 percent in dollar terms during the first quarter.
 

Fibre2fashion News Desk - India


Interviews View All

Top executives, Textile industry

Top executives
Textile industry

GST has levelled the playing field to an extent

Stefan Warnaar, Peak to Plateau

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Binoy Ravjani, Hero's Fashion

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Alon Moshe,

Alon Moshe

Israel-based Twine Solutions is a technology start-up that has developed a ...

Abhishek Dhanuka,

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

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

Leave your Comments


October 2019

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

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search