Handicrafts export up two pc to $1.83 bn in FY'10.

NEW DELHI: India's handicrafts exports grew by about two per cent to USD 1.83 billion during 2009-10, thanks to growing demand in major markets like the US and Europe.

During 2008-09, the exports stood at USD 1.79 billion, according to the Export Promotion Council for Handicrafts data.

"There is an increase in demand in the western markets like the US and Europe. Stores in these markets are giving good response as their inventories got over," EPCH Chairman Raj Malhotra said in a statement.

Of the total handicrafts items exported during 2009-10, the European Union emerged as the major importer with a share of 40 per cent, followed by the US with 25 per cent share.

The council said that the government support in terms of announcing various schemes like Focus Product and Focus Market scheme for the exporters have also helped them to withstand the fierce competition in the world market arising out of economic slowdown.

Handicrafts items which saw a maximum growth are imitation jewellery which grew by about 12 per cent, followed by woodenwares 10 per cent, embroidered and crocheted goods 1.39 per cent and zari goods 0.91 per cent.

Exporters are hopeful that exports would continue to grow in the current fiscal. After 11 months of contraction since October 2008, exports from handicrafts sector turned positive in September 2009, registering a growth of over 160 per cent.

"In the current fiscal, the EPCH expects export growth of about 10 per cent. Besides focusing on the US and European markets, we are exploring new markets in countries like Latin America, the Middle East, South East, Far East, Africa and CIS countries," EPCH Executive Director Rakesh Kumar said.

The US and EU together account for 70 per cent of the country's handicrafts exports. Moradabad, Jaipur, Saharanpur, Jodhpur and Narsapur are the major handicraft hubs catering to world markets.

Source : The Economic Times