US, Europe Demand Pushes India's Handicrafts Exports Up 22 Per cent in August

Posted By: Religare
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A rise in demand from the US and European markets has pushed India's handicrafts exports up by around 22 per cent to USD 369 million in August, 2010.

US, Europe Demand Pushes India's Handicrafts Exports Up 22 Per cent in August

India's handicraft exports for the corresponding month of August, 2009 stood at USD 303 million Commenting on the matter Export Promotion Council for Handicrafts (EPCH), Chairman Mr. Raj Malhotra said, "The growth is attributed to Christmas orders, mainly from US and European markets.Also, demand from new markets like Argentina and Brazil has increased".

Meanwhile the data released by EPCH has pointed out that imitation jewellery export registered the maximum growth of 37.05 per cent during August, 2010 and was followed by woodware, which reported a growth of 30.16 per cent.

Meanwhile shawls as artware and artmetal wares reported the third highest growth in exports during August with growth of 26.97 per cent and 22.05 per cent, respectively.

Further it is worth noting that the US and EU market together account for nearly 70 per cent of the country's handicraft exports.

The export of handicrafts registered a growth of 21.71 per cent during the April-August, 2010 period at USD 960 million as compared to the corresponding period a year-ago.

The sector provides employment to nearly 1 million people and caters to the international market form various handicraft hubs across the country such as Moradabad, Jaipur, Saharanpur and Jodhpur.

Further it is worth noting that the Indian handicraft sector made a comeback in September, 2009, registering a growth of over 165 per cent after being severely hit by the global economic slowdown.

However exporters are now hopeful that the positive trend will continue in the coming months as well.

Read more about: exports, europe
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