Handicraft exports up 11 pc in April: EPCH

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SME Times News Bureau | 14 May, 2012
Exports of handicraft items grew by 11 percent to USD 227 million in April this year, said the Export Promotion Council for Handicrafts (EPCH) in a report on Monday.

According to the nodal agency, handicraft exports from India grew mainly due to growing demand from new markets like China, Latin America and the West Asia.

"There is an increase in demand from new markets like China, the West Asia and Latin America," EPCH Executive Director Rakesh Kumar. Exports stood at USD 204 million in April, 2011.

The demand, however, is still weak in the US and European markets that are witnessing sluggish economic growth, he said.

The US and Europe together account for over 60 percent of the country's total handicraft exports.

Among the items that registered the maximum growth in exports in April were woodwares that saw a rise of 50 percent, followed by imitation jewellery at 39 percent, shawls as artwares 31 percent and miscellaneous items 12 percent.

The Council expects handicraft exports to touch USD 3.2 billion in the current fiscal.

During 2011-12, these exports touched USD 2.75 billion.

Earlier Kumar has said that the nation’s handicraft exports have surpassed the set target of USD 2700 million for the FY 2011-12. "We have reached the USD 2705.66 million this financial year, which is slightly more than the given target," he said.

The exports of Home Furnishing, Floorings and Home Textiles has also grown by 20.64 percent during the year 2010-11 over the previous year. As in the case of Furniture & Accessories and Houseware and Decoratives, the major markets for Home Furnishing, Floorings and Home Textiles have been USA, Canada, countries in European Union like France, Italy, UK, Netherlands etc. in addition to UAE, Japan and Switzerland.