Coir exports likely to grow by 20 per cent in full-year 2014

New Delhi: The country's coir exports are likely to grow by 20 per cent to Rs 1,200 crore in the current fiscal on account of growing demand from western markets like the US and Europe.

Last fiscal, these exports stood at Rs 1,000 crore. "Coir exports are growing at a healthy rate and may touch Rs 1,200 crore mark in 2013-14 due to rising demand in western markets like the US ad Europe," Micro, Small and Medium Enterprises ( MSME) Secretary Madhav Lal said.

He was speaking to reporters after inaugurating the Coir Board pavilion at India International Trade Fair ( IITF) at Pragati Maidan here.

The US and Europe account for about 72 per cent of the country's total coir exports.

Besides, exporters are getting a good response from emerging markets like Africa and the UAE, he added.

The Coir Board, which is a statutory body and was set up in Coir Board works towards the promotion and development of coir sector in India as a whole, is celebrating its 60 years.

During April-October 2013, these exports stood at over Rs 700 crore.

Products made out of coir include mats, carpets, matting tiles, yarn, bags, decorative items, jackets, umbrellas, coir jewellery.

Meanwhile, the Secretary inaugurated the MSME Expo organised by the Office of Development Commissioner MSME.

More than 66 exhibitors are showcasing a wide variety of products, including decorative, home furnishings, textiles, among others.