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IHGF Spring generates business worth Rs. 855 crores

24
Feb '10
Business worth over Rs. 855 crore was generated at the four–day exposition of Asia's largest Indian Handicrafts and Gifts Fair (IHGF) Spring 2010 registering an increase of around 14 percent, compared to the last fair held in October, which concluded at the India Expo Centre and Mart at Expressway Greater Noida.

More than 4,375 foreign buyers, as against 3,800 in the previous fair, representing world famous major global buying houses and retail chains from about 54 countries visited the fair to source their requirements from a diverse range of products under one-roof showcased by over 2,150 exporters and manufacturers, including 900 permanent marts, from all parts of the country.

“Increase in footfall of foreign buyers by around 15 per cent and generation of more business at the Fair clearly shows a gradual turnaround in the handicraft sector as the previous fair had booked orders worth over Rs. 750 crore only. The complete turnaround is expected by April 2010,” said Mr. Raj Kumar Malhotra, Chairman, Export Promotion Council for Handicrafts (EPCH), the organizers of the fair.

Council Chairman further pointed out that of the Rs. 855 crore orders booked during the Fair, US accounted for a major check of an approximate 33 per cent followed by Europe by 28 per cent, Latin American Countries (LAC) 9 per cent, Commonwealth of Independent States(CIS) 6 per cent and miscellaneous (others) by 24 per cent.

China is the largest exporter and USA is the largest importer of Handicrafts in the US$250 billion world market and India's share is merely 2 per cent at present.

“EPCH has prepared a Road Map to boost export of handicrafts products and envisages to conduct Brand Image Programmes/Seminars in select markets, to create awareness and motivate buyers towards sourcing from India. The Council has also identified destinations for deepening market penetration by setting up of showrooms and warehouses along with creating integrated network of local logistics and distribution system to capture the markets,” said Mr Rakesh Kumar, Executive Director, EPCH.

Evincing keen interest in fashion jewellery, lifestyle products and utility items, buyers from new and emerging markets other than the traditional markets including US, UK, Japan, Australia, France, Germany, Spain, Denmark, Thailand, Malaysia, UAE, South Africa, Lebanon, Syria, Argentina, Brazil, Switzerland, Sweden, Israel, LAC, CIS and other countries of the world sourced their requirements.

This bi-annual mega event showcases Houseware, decoratives and Gifts, Home Textiles, Furnishings and Floor Coverings, Futniture and Home Accessories, Cane, Bamboo and Eco-Friendly products, Christmas Decorations, Candles and Incense Sticks, Fashion Jewellery, Accessories and Bags.

This world class show offers unmatched opportunity for departmental store chains and specialty stores, retailers, interior designers, importers, wholesalers and distributors of future products, purchase divisions of hospitality chains to source a wide variety of furniture products and accessories from all over India under one roof spread over 97,000 sq. mts. Area.


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