Handicraft Exports Surge 26% in 2010-11.

Riding on the back of rising demand from emerging markets such as Africa and Latin America, India’s handicraft exports strikingly grew by around 26 percent to $2.3 billion during 2010-11 fiscal, up from previous fiscal’s $1.8 billion.

Exporters are expecting the positive trend to continue, during the current fiscal year, and are eyeing a rise of around 20 percent in exports, mainly driven by the rise in demand from new markets like Latin America.

However, demand from conventional markets like Europe and the US is still moving sluggishly.

Around 60 percent of country’s overall handicraft exports are directed towards the US and Europe.

Zari and zari items registered the highest export growth with a rise of 52.21, followed by embroidered and crocheted products with 43.75 percent.

Jaipur, Jodhpur, Moradabad, Narsapur and Saharanpur are the main handicraft centres of India that cater to international markets, and employ around one million workers.

Handicraft exports registered a year on rise of around 18 percent during March this year, when it grew to $616 million, over previous year.

With an aim to lower their reliance on western markets like the US and Europe, the exporters have started surveying new markets like Africa, Latin America and Asia.

Moreover, the government has also come up with incentives for exporters to help them diversify and enhance their trade with budding markets like the Caribbean region and Latin America.

Source : fibre2fashion.com