Weak rupee brings cheer to handicraft exporters

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SME Times News Bureau | 27 Jan, 2012
Weak rupee against US dollar is a "blessing in disguise" for Indian handicrafts exporters as their inputs are sourced domestically, the Export Promotion Council for Handicrafts (EPCH) said Wednesday.

"If you see the rupee weakening side, we (handicrafts) have net foreign exchange for the country. If you look at gems and jewellery, who first import and after value addition, they re-export. Their imports have become expensive, same is with engineering," EPCH Executive Director Rakesh Kumar told media while announcing that the Textiles Ministry will float a Tableaux on Indian Handicrafts for the first time during this year's Republic Day parade.

"...But in the case of handicrafts, all items are made by indigenous material -- clay, wood, etc. So Rs 45/dollar or Rs 51/dollar gives us an advantage or power of negotiation with foreign buyers," he said in New Delhi.

The near 18 percent fall in the rupee value against the US dollar between May and December, 2011, has hiked cost of raw materials, thereby resulting in costlier imports.

The target for the next five years will be achieved by exploring non-traditional markets like Latin America, the Middle East and East European nations, as well as brand promotion.

The tableaux showcased the process of sourcing, retail and export of handicrafts in different approaches. It has also consist of 10 national awardee artisans giving a live demonstration of their craft work.