Carpet exports touch USD808 million in 2011-12 | SupportBiz

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Carpet exports touch USD808 million in 2011-12

Estimates by the Carpet Export Promotion Council (CEPC) suggest exports of carpets worth USD808 million in the 2011-12 fiscal, reports SME Times. SN Singh, Chairman of the CEPC, stated that the Indian carpet industry has surpassed the export target of USD800 million that the government had determined for the sector for the 2011-12 fiscal.

Singh stated that the carpet industry in India has grown by around 19 percent in 2011-12, as compared to the previous fiscal year, and that this growth has largely been noticed in places in Delhi, NCR, Jaipur and Panipat.

The council chairman went on to state that the export growth has been achieved in spite of the uncertainty in major export markets like the US and the EU. He stressed the need to explore newer export markets like Latin America, Africa, Russia, Japan and the Middle East.

He also urged the government to intervene in the significant challenges that the sector has been facing, such as high interest rates, shortage of labour and high excise duties on carpets.

OP Garg, former Chairman of the CEPC, expressed concern about the depriciating value of the rupee affecting the interests of the carpet exporters.

The CEPC expects a growth of 20 percent in India's carpet exports in the 2012-13 fiscal, raising the exports to USD960 million.

Source: SME Times