Handicraft, carpet exports decline 12% due to rupee rise
The sharp rise in value of rupee against the dollar has impacted handicraft and carpet exports, which declined by 12.90 per cent during April-October 2007, the Lok Sabha was informed on Monday.
By PTI |
NEW DELHI: The sharp rise in value of rupee against the dollar has impacted handicraft and carpet exports, which declined by 12.90 per cent during April-October 2007, the Lok Sabha was informed on Monday.
During April-October 2007, handicraft and carpet exports stood at Rs 8,348 crore, compared to Rs 9,585 crore in the corresponding period of previous fiscal, Minister of State for Textiles EVKS Elangovan said in a written reply.
While the government is taking steps like development of value-added products through product development programmes, the Export Promotion Council for Handicraft has asked for enhancing duty drawback rates on handicraft exports, he said.
India's textile exports, hit hard by the appreciating rupee, declined by over 11 per cent in dollar terms during April-May 2007.
India recorded a meagre 0.6 per cent growth in exports of textiles to the US in 2007, while China's exports grew by 23.7 per cent during the same period.
The government has increased duty entitlement pass book and duty drawback rates, provided exemption from service tax on seven items for exports and reduced interest rates of pre and post shipment credit to help exporters tide over the crisis arising out of rupee rise, he said.
During April-October 2007, handicraft and carpet exports stood at Rs 8,348 crore, compared to Rs 9,585 crore in the corresponding period of previous fiscal, Minister of State for Textiles EVKS Elangovan said in a written reply.
While the government is taking steps like development of value-added products through product development programmes, the Export Promotion Council for Handicraft has asked for enhancing duty drawback rates on handicraft exports, he said.
India's textile exports, hit hard by the appreciating rupee, declined by over 11 per cent in dollar terms during April-May 2007.
India recorded a meagre 0.6 per cent growth in exports of textiles to the US in 2007, while China's exports grew by 23.7 per cent during the same period.
The government has increased duty entitlement pass book and duty drawback rates, provided exemption from service tax on seven items for exports and reduced interest rates of pre and post shipment credit to help exporters tide over the crisis arising out of rupee rise, he said.
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