The recently published report by Export Promotion Council for Handicrafts (EPCH) shows a rise in the figures as Indian hand printed textile products are a favorite of the conventional and new emerging markets.
In the second quarter of 2013, exports saw a rise of 6.01 percent (US$ 174.65 million) as compared to last year’s figures of US$ 183.61 million, during the same time period. Apart from hand printed textiles and scarves, embroidered textiles and crochet products went up from US$ 313.99 million to US$ 321.78 million (2.48% growth); shawls and soft goods grew by 31.1% from US$ 42.06 million to US$ 55.14 million. Thus, as compared to year 2012, India’s handicraft exports witnessed a rise of 11.27%. 2012 figures were at US$ 1.41 billion, while 2013 shows the figures at 1.56 billion. As per textiles news, traditional as well as freshly emerging buyers have contributed to the growth.
In the previous year of 2012, the textiles ministry in India had an export target of US$ 3.8 billion to US. Highly positive market sentiments have encouraged them to revise the target to US$ 4 billion in 2013, which is higher than the previous fiscal’s exports of US3.3 billion. Rakesh Kumar, the EPCH executive director at EPCH quoted that the council is strongly estimating that the Indian handicraft sector will easily achieve the new target of 2013, looking at the growing demand from the traditional US and UK markets as well as emerging economies such as China, Russia and Latin America. Yet, he also said that the EU market has not shown an equal enthusiasm and zeal. EU, along with US, contributes to almost 60 percent of India’s handicraft exports.
Lekhraj Maheshwari, the chairman of EPCH stated that Indian exporters are also trying their best to enhance their share in the global market, by leveraging from China’s decision to make a shift from labor-intensive sectors to capital-intensive sectors.
EPCH just concluded its annual 'Indian Handicrafts and Gift Fair' (IHGF), which is organized to promote handicraft exports. The fair sees a major footfall of thousands of international buyers who benefit from around 2600 exhibitors, attracting a business worth millions.
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