The sluggish demand in the US and EU markets, which account for nearly 70 percent of India's handicraft exports, has translated into a slower growth for the country's handicraft exports in December 2011.
Handicraft exports from India grew at a slower pace of 9 percent during the month to US$ 338 million, compared to exports of US$ 309 million achieved during the same month of previous year.
During the month, exports of shawls as art-ware increased by about 30 percent year-on-year, while embroidered and crocheted items posted a decline of about 7 percent y-o-y.
In the first three quarters of the current financial year, India's handicraft exports grew to US$ 1.7 billion, registering a growth of nearly 19 percent as against exports of US$ 1.4 billion posted during the corresponding period of 2010-11.
About one million people work in the Indian handicraft sector. The country has major handicraft hubs like Saharanpur, Moradabad, Jodhpur and Jaipur, which produce products for export to international markets.
Fibre2fashion News Desk - India