Handicrafts exports recover after 2 years downfall: EPCH .

The exports of Handicrafts, which had declined to Rs. 8183.12 crore or USD 1797.88 million in 2008-09, had started showing signs of improvement in the later part of financial year 2009-10 and reached at Rs. 8718.94 crore or USD 1830.23 in million.

However, the percentage of improvement during the year 2009-10 was very nominal amounting to 1.80% in dollar terms and 6.55% in rupee terms, informed Export Promotion Council for Handicrafts (EPCH) in a press release on Sunday.

"During first quarter of the year 2010-11 viz. April-June, the exports of handicrafts have recovered  substantially as compared to previous year," said R.K. Malhotra, Chairman, EPCH.

"The growth in the first three months of the current financial year has been 15.45% in rupee terms and 22.81% in dollar terms. Although the increase has been by and large in all products categories, the increase in case of fashion jewellery and accessories has been remarkable."

"Fashion jewellery and fashion accessories product segment constitute  costume jewellery, hand  printed textiles and scarves, embroided and crocheted goods, zari and zari goods, shawls, stoles, bags and purses, belts, chappals and foot wear etc. On an average the growth  in the fashion jewellery and accessories segment  has been around 32% during first three months of the current financial years," Malhotra added.

India's main competitors in the world market for this segment are China, Taiwan, Korea, Philippines, Thailand and Indonesia etc. The products manufactured by competiting countries are by and large machine made and very rarely hand crafted. As against this, India enjoys edge over these competitors in terms of exclusivity in design, workmanship, finish, colors and raw material etc. Indian products are predominantly hand crafted and not machine made, said Council Chairman.

Source : SME Times