New Delhi (PTI): Deceleration in Indian handicrafts exports seems to be bottoming out, as shipments in April dropped at a lower pace than in March last fiscal.
Handicrafts exports dipped 22 per cent to $154.78 million in April year-on-year against a whopping 71.8 per cent decline posted in March.
As demand for items like metal-ware, imitation jewellery, wooden items and wall hangings came down in the recession-hit western stores, their exports from India contracted by a massive 48 per cent in the 2008-09 fiscal.
However, the situation seems to be improving as the pace of decline is not as sharp as it was in the last fiscal.
"We have been able to arrest the dip in exports to a certain extent and we are hoping that the scenario will only get better from now on," Export Promotion Council for Handicrafts (EPCH) Chairman R K Malhotra told PTI.
The newly-elected EPCH chairman said the government's initiatives like interest subvention did help the exporters.
The sector, which employs close to one million people, has lost about five lakh jobs in the last one year.
Artisans in handicrafts clusters of Moradabad, Jaipur, Shararanpur, Jodhpur and Narsapur have suffered job losses in large number.
"We plan to take up with the Government issues like duty exemption on import of machines, exemption from income tax and service tax, expediting the process of VAT refund and abolition of fringe benefit tax," Mr. Malhotra said.
Indian handicrafts have major markets in the US, UK, Germany, Italy and Saudi Arabia.
Moradabad (Uttar Pradesh) is a major exporting hub of art metal wares and imitation jewellery, while Saharanpur and Jodhpur are famous for wooden, wrought iron and sea shell handicrafts.
Source : The Hindu