Carpet Exports Up By 7% in May.

Soaring demand from emerging markets like Latin America and China have pushed India’s carpet exports to US$ 73 million during May this year from US$ 68 million in the year ago period, registering a year-on-year rise of seven percent, according to the Carpet Export Promotion Council (CEPC).

A CEPC official said that significant number of orders came “even from emerging markets like Latin America, China and Middle East, besides from conventional markets like the US and Europe”.

Around 40 percent of the country’s total carpet exports are to Europe, while the share of the US, Middle East and Latin America is 30, 20 and 10 percent, respectively.

Carpet exports registering a year-on-year rise of 13 percent hiked to US$ 129 million during April and May 2011.

The segments which registered highest growth included synthetic carpets which grew at 25 percent, handmade woollen tufted carpets rose at 12.4 percent, and handloom silk carpets increased at 11 percent.

The carpet sector in India serves as a source of livelihood for around 2.5 million people. The CEPC has forecasted a 25 percent growth in carpet exports in 2011-12 compared to the previous fiscal.

The country’s overall carpet exports, with a year-on-year rise of 24 percent stood at US$ 653 million during the fiscal year 2010-11.

Source : fibre2fashion.com