Exports of handicrafts likely to touch Rs 100 bn

12 Jul '10

2 min read

Maintaining an increase in demand from the US and Europe, India's export of handicrafts might surge by over 12 percent in the current financial year, to reach the Rs 100 billion mark, informed Export Promotion Council for Handicrafts (EPCH).

During the last fiscal, India exported handicrafts worth Rs 87.19 billion. However, with demands for the same rapidly increasing, especially from US and Europe, this year, the exports mark is likely to touch Rs 100 billion, averred RK Malhotra, Chairman of EPCH.

The rapidly increasing growth in handicraft exports came about after a two-year downfall, from the later part of the last fiscal, and the growing trend had continued till date, in the current fiscal too, said Malhotra.

During the first three months of the on going fiscal, India's handicraft deliveries increased by 15.45 percent, more than the same period, last fiscal.

The surge in exports is led by fashion jewellery and the accessories sectors, which have registered a considerable 32 percent rise in the first three months, over the corresponding period last year, informed Malhotra. Overall too, almost all products under the handicrafts sector have witnessed a good increase.

While the international market for fashion jewellery and accessories is around $16 billion, India's share in to this sector is only zero.

In order to further boost India's exports in the global markets, Malhotra informed that, EPCH had formulated a plan, which included participation in trade shows and conducting buyer-seller meetings in the growing markets.

Fibre2Fashion News Desk - India

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