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Indian handicraft exports surge in Jan

15
Feb '12
Positive demand from traditional US market and emerging markets like Latin America and Africa has greatly helped India to sustain its handicraft export growth momentum.

According to the Export Promotion Council for Handicrafts (EPCH) data, rising at a year-on-year rate of 24 percent, the country's handicraft exports reached US$ 178 million in January 2012.

Usually, around 70 percent of India's handicraft exports are destined towards the EU and the US. However, the demand from European markets was less than normal owing to slow economic growth in those countries.

During the initial 10 months of the current fiscal, handicraft exports grew by around 19 percent to US$ 1.8 billion from last year's corresponding period's exports worth US$ 1.5 billion. The country shipped US$ 2.3 billion worth of handicrafts during last fiscal.

EPCH is positive about achieving the current year's export target of US$ 2.7 billion, as generally more number of orders flow in during the last quarter of any fiscal.

Saharanpur, Moradabad, Jodhpur and Jaipur are the key handicraft centres in India that supply to international markets. The industry serves as a source of employment for around one million people.

Fibre2fashion News Desk - India


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