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EPCH to set up SEZ for handicrafts

12
Jul '10
Raj Kumar Malhotra, Chairman of Export Promotion Council for Handicraft (EPCH) informed that, so as to support small and medium enterprises, (SMEs) exporting handicrafts, EPCH is intending to establish an exclusive SEZ for handicrafts at Greater Noida, Uttar Pradesh or in Haryana.

The increasing demand of handicraft goods is a proof of the fact that, the economic downturn and recession in the international market had reduced. Hence, to hit the surging demand of handicraft goods in the international market, EPCH is eyeing for an exclusive SEZ for handicrafts in the Delhi-NCR region, informed Malhotra.

Since the handicrafts industry is one of the biggest foreign exchange earners, Rakesh Kumar, Executive Director, EPCH averred that, there was a need for a SEZ for showcasing handicrafts. Further he added that, the SEZ will aid in providing internationally-competitive and a comfortable environment, especially for exports of smaller handicrafts.

The global market for handicrafts and giftware is approximately $235 billion, of which India's share is merely $3 billion, which is basically 1.6 percent of the net market. While releasing the handicraft export figures for the months of April-May this year, Kumar informed that, there was a 22 percent increase in terms of dollar for the said period, year-on-year basis.

However, handicraft exports depict a surge of Rs 2.01 billion, from Rs 13.40 to Rs 15.42 billion, up by 15.04 percent in terms of rupee. In terms of dollar, exports depict a rise of US $60.88 million i.e. a rise in exports by 22.3 percent more than the corresponding period in 2009-10.

More so, to fortify the handicraft segment, an all-inclusive plan has been prepared to develop an International Local Trade Centre in Narsapur, Andhra Pradesh. EPCH will be establishing this project at a cost of Rs 1 billion, along with the Government of India, informed Kumar.

Fibre2Fashion News Desk - India


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