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Carpet exports fall by a staggering 31%
05 May '09
1 min read
Due to the impact of ongoing global financial downturn, carpet exports from the country witnessed a decrease of 31 percent in 2008-09, which fell to $600 million. Half of the country's total export of Carpets and Rugs goes to the US.
In the year 2007-08, country had exported carpets and rugs worth $875.71 million woven by about 2.5 million artisans and unskilled laborers in Srinagar, Jaipur, Udaipur and Varanasi.
Concerned about falling figures of carpet exports, Mr. Ashok Jain, Chairman of Carpet Export Promotion Council said that as carpet is a luxurious product people will buy it only after attaining their basic needs during recession.
Further he added that he hopes that carpet shipments would rebound from September or October onwards. For the time being, exporters are framing out a new business strategy focusing on more affordable range of products.
Along with creating reasonable products for the US markets, the industry would also focus on increasing exports in the alternative markets such as Russia, Latin America, South Africa and the Gulf countries, added Mr. Jain.
In the year 2007-08, country had exported carpets and rugs worth $875.71 million woven by about 2.5 million artisans and unskilled laborers in Srinagar, Jaipur, Udaipur and Varanasi.
Concerned about falling figures of carpet exports, Mr. Ashok Jain, Chairman of Carpet Export Promotion Council said that as carpet is a luxurious product people will buy it only after attaining their basic needs during recession.
Further he added that he hopes that carpet shipments would rebound from September or October onwards. For the time being, exporters are framing out a new business strategy focusing on more affordable range of products.
Along with creating reasonable products for the US markets, the industry would also focus on increasing exports in the alternative markets such as Russia, Latin America, South Africa and the Gulf countries, added Mr. Jain.
Fibre2fashion News Desk - India
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