SME Times is powered by   
Search News
Just in:   • Corporate India cuts gifting budget by 35-40 pc this Diwali  • Sell-off in banking stocks drag equity indices lower  • Reformative measures like GST will improve economy: Naidu  • Maruti's Dzire achieves 'fastest 1-lakh sales' mark  • Goodricke Group acquires Godfrey Phillips' tea business 
Last updated: 12 Oct, 2017  

EPCH.9.Thmb.jpg Handicraft exports growth sluggish during Apr-Sep, dip minus 3 pc

handicraft-down.jpg
   Top Stories
» Corporate India cuts gifting budget by 35-40 pc this Diwali
» Reformative measures like GST will improve economy: Naidu
» North East Small Finance Bank commences operations: RBI
» Dhanteras witnesses good sale; No impact of note ban, GST
» PCs, gadgets shipment to exceed 2.35 bn in 2018
Saurabh Gupta | 12 Oct, 2017
Export Promotion Council for Handicrafts (EPCH), an apex organization of trade and industry for promotion of handicrafts, Wednesday informed that the shipment of handicraft items has dropped by around minus three percent during April-September in 2017-18.

"The exports of handicrafts during April-September 2017-18 have shown a decrease of USD 55.68 million (from USD 2000.64 million in 2016-17 to USD 1944.96 million in 2017-18) i. e. the exports decreased by 2.78 percent over the similar period in 2016-17," the Chairman, EPCH, O.P. Prahladka told SME Times in Greater Noida at a press conference on 44th  IHGF-Delhi to be open from October 12, 2017.

He said, "Mainly the artmetalwares, imitation jewellery, misc handicrafts have showed negative growth of 9.07 percent, 6.51 percent and 11.10 percent respectively."

Prahladka belies that Goods and Services Tax (GST) is one of the major reason of drop in figure. He mention that due to the GST implication at present exporters are not in a position to figure out its exact input cost of their items. He also said the volatility in Indian Rupee is also affected the data during said time period in 2017-18.

Executive Director of EPCH, Rakesh Kumar, while speaking to SME Times, said, "In April-June tere was increase in figure but from July-September there was a down fall of 29 percent in exports of handicraft items." The Goods and Services Tax (GST) was implemented from July 1 this year.

However, Kumar made clear that there was major drop in exports of artmetalwares handicrafts from Muradabad. He said, "The drop in export is mainly due to increase in price of copper and zinc, that we import for our metalware handicraft items from other countries."

"And the price of these metals are governed by London Metal Exchange (LME). In July 2017 there was 20 percent increase in metal prices in LME," he added.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
65.95
64.30
UK Pound
87.75
84.85
Euro
77.85
75.20
Japanese Yen 58.75 56.80
As on 19 Oct, 2017
  Daily Poll
Small traders even below the threshold limit too should register under GST system?
 Yes
 No
 Can't Say
  Commented Stories
» Starting an import export business: Basic guide for beginners(20)
» GST revamp: Relief to exporters, SMEs(13)
» Exposed: Banks behind unfairly high cost of credit(3)
» 'GST relaxations advanced Diwali celebrations'(1)
» 'Students should apply for interest subsidy on education loans'(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter