India's carpets exports have declined for the 11th month in a row, plunging by 28 per cent to USD 41.5 million in August this year over the year ago period due to a slump in demand in the US and Europe.
"We are getting very less orders compared to last year due to less demand from the US and the EU, which account for the bulk of country's carpets exports," Carpet Export Promotion Council Chairman Ashok Jain said.
He added, "carpet is a luxury item and not a necessity. Currently, people have economic insecurity and I feel that they will buy carpets only after meeting their basic needs."
In the April-August period this year, exports of carpets stood at USD 177.34 million against USD 240.58 million in the same period last fiscal.
On revival in demand, he said, the demand is expected to pick up by January 2010 as there are signs of recovery in some western economies. The exporters are pinning their hopes on the carpets exhibition "India Carpet Expo", an annual event, to be held in October at Varanasi.
Source : Indian Express