Handicraft exports likely to achieve $4 bn target in FY'14

NEW DELHI: India's handicraft exports are expected to meet the $ 4-billion target in 2013-14 on the back of growing demand in markets like the US, China, Russia and Latin America.


In the last fiscal, these exports stood at $ 3.3 billion, according to the Export Promotion Council for Handicrafts ( EPCH) data.

Recently, the Textiles Ministry had revised the target from $ 3.8 billion to $ 4 billion.

"We are hopeful that we will achieve this year's revised target of $ 4 billion as there is an increase in demand from western markets such as the US and also from emerging markets like Latin America, Russia and China," EPCH Executive Director Rakesh Kumar told reporters here.

He said the demand is still sluggish in European markets. The US and Europe together account for about 60 per cent of the country's total handicraft shipments.

During April--September 2013, the exports of handcrafted items grew about 11.27 per cent to $ 1.56 billion compared to the same period last fiscal.

Exporters are making efforts to take advantage of the China's decision to shift from labour-intensive sector to capital intensive segment.

"We feel that Indian exporters are likely to benefit from China's decision to focus more on capital--intensive sectors than the labour--intensive ones. This has made inroads for Indian exporters to increase the share of handicrafts products in the global market," EPCH Chairman Lekhraj Maheshwari said.

To promote handcrafted exports, the council would organise a four-day fair titled 'Indian Handicrafts and Gift Fair' ( IHGF) wherein more than 2,600 exhibitors would participate showcasing a wide variety including furnishings, decorative and woodware.

"This year the fair, which is expecting a footfall of over 4,500 international buyers, is likely to generate business worth Rs 15 crore compared to Rs 11 crore last time," Maheshwari said.

The handicraft sector employs seven million people. Moradabad, Jaipur, Saharanpur and Jodhpur are the major handicraft hubs in the country catering global markets.