India Likely To Exceed Handicrafts Export Target for 2014 | SupportBiz


India Likely To Exceed Handicrafts Export Target for 2014

Raj Narayan's picture
Tags: handicraft, EPCH
India Likely To Exceed Handicrafts Export Target for 2014
New Delhi: Exports from the handicrafts sector grew nearly 40% in January compared to a like period in the prevous year and looks set to achieve the annual target of USD 4.1 billion for the current financial year.

Growing demand in emerging markets such as Africa and Latin America resulted in shipments of handicrafts growing by USD 98.9 million to USD 347.7 million during January, said Rakesh Kumar, Executive Director of the Export Promotion Council for Handicrafts (EPCH). 

This robust growth has made us confident that the country would be achieving the export target of USD 4.1 billion set for the current financial year with a good chance that the targets may be surpassed in the remaining two and a half months, Kumar said at a media conference here. 

Exports during the same period of 2012-13 touched USD 248.7 million with the figure growing by nearly 21% during the first ten months of the current financial year over the corresponding period of the last fiscal. 

India's total exports from the handicrafts sector stood at USD 3.3 billion in the last financial year, the official said adding that the EPCH was organizing a slew of exhibitions to bolster interest amongst the global buyers. 

This year's annual Handicrafts Fair will have more than 2600 exhibitors from various regions and states of India displaying a very wide variety of handicrafts. Of these, a majority are from the central region, followed by the north, north-west and east. Exhibitors from southern and western India haven't evinced major interest in the event. 

Some of the major product categories displayed at the exhibition would include furniture, fashion jewellery, lighting, lace craft and home textiles.