Indian handicrafts sector reverses overall export trend | SupportBiz

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Indian handicrafts sector reverses overall export trend

 
Despite economic uncertainty in global market, India’s handicraft exports has increased by 22.15 per cent to $3.30 billion in 2012-13 owing to strong demand from the US, Europe, Australia and Latin America.

Exporters are hopeful that the handicrafts sector will grow even further by another 20 per cent this fiscal if the government comes up with supportive measures in the Foreign Trade Policy to be announced next week. The industry also wants the government to expand the list of inputs covered in the duty-free import certificate.

R.K. Verma, director, Export Promotion Council for Handicrafts is hopeful that, the government will increase the interest subvention rate to 5 per cent from 2 per cent and extend the scheme for at least five years, since the cost of credit has become a big cause of worry for the sector.

To attract foreign buyers, EPCH is organising a mega fair in New Delhi starting next week, which will showcase a wide variety of products including furnishings, floorings, textiles, furniture and housewares.

According to Verma, established chain stores and boutique owners from the US, EU, Latin America, Central Asia and African continents will visit the fair which is expected to generate business worth Rs 1,500 crore.

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