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Handicraft exporters demand hike in withdrawal limit
25
Nov '16
Handicraft exporters facing a cash crunch have demanded that withdrawal limits should immediately be increased from Rs 50,000 per week to Rs 5 lakh per week based on the size and scale of the organisation. The handicraft industry deals in cash and the liquidity crunch is affecting the sector, according to the Export Promotion Council for Handicrafts (EPCH).

Handicrafts are essentially produced at village and cottage level and workers of the sector are not turning up for work. This is affecting production as well as export orders, said media reports quoting Rajesh Jain, vice chairman, EPCH.

Women and workers of the weaker sections form a large part of the Handicraft industry, which collectively employs about 70 lakh people across the country. The industry recorded a 3.45 per cent growth in exports in the month of October to reach $149.5 million.

The cash withdrawal limit for small traders was hiked to Rs 50,000 per week last week. (KD)

Fibre2Fashion News Desk – India


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