Carpets Exports Decline Marginally in Sep.

New Delhi, (PTI) India''s carpet exports declined marginally to USD 75.98 million in September, compared to USD 76.01 million in the same period last fiscal on less demand from the US and European markets.

"There is slightly less demand for our products from the US and European markets," according to Carpet Export Promotion Council (CEPC) Chairman OP Garg said.

Among the categories, which have registered maximum growth are synthetic carpets, which grew by 12.80 per cent, followed by silk carpets 11.26 per cent and handmade woolen tufted carpets 5.16 per cent.

During April-September 2010, the carpet exports grew by 18.37 per cent to 302.39 million, compared to the same period last fiscal.

The council expects the carpet exports to grow by 25 per cent to USD 650 million in 2010-11 compared to last year.

"We are hopeful that the target will be achieved as we are also getting good number of orders from new markets like Russia and Dubai," Gard said.

The US and EU together account for nearly 70 per cent of the country''s total carpet exports.

Carpet exports, which started declining since October 2008, had managed to turn positive in November 2009, registering a growth of 18 per cent. The sector employs 2.5 million people.

Source : news.in.msn.com