New Delhi, Feb. 25 In a boost to the handicrafts sector that was badly hit by the global financial crisis, the recently held Indian Handicrafts and Gifts Fair - billed as Asia's largest - generated business worth over Rs 855 crore, recording a 14 per cent increase over the last fair held in October 2009.
Of the Rs 855 crore-worth orders booked during the Fair, US accounted for the most with around 33 per cent of the total orders, followed by Europe with 28 per cent, Latin American Countries (9 per cent), CIS countries (6 per cent) and others (24 per cent).
The four-day long fair, held at the India Expo Centre and Mart near Greater Noida, concluded on Tuesday.
Over 4,375 foreign buyers (as against 3,800 in the previous fair) representing world famous major global buying houses and retail chains from about 54 countries visited the fair.
Gradual turnaround
These buyers had come to source their requirements from a diverse range of products under one-roof showcased by over 2,150 exporters and manufacturers from across the country.
"Increase in footfall of foreign buyers by around 15 per cent and generation of more business at the Fair clearly shows a gradual turnaround in the handicraft sector. The previous fair had booked orders worth around Rs 750 crore only.
"The complete turnaround is expected by April 2010," said Mr Raj Kumar Malhotra, Chairman of the Export Promotion Council for Handicrafts (EPCH) that organised the fair.
China is the largest exporter of handicrafts, while the US is the largest importer in the world market for the sector worth $250 billion. India's share currently is just 2 per cent.
Brand India programmes
"EPCH has prepared a roadmap to boost export of handicrafts products and would conduct Brand Image Programmes and seminars in select markets, to create awareness and motivate buyers towards sourcing from India.
The Council has also identified destinations for deepening market penetration by setting up of showrooms and warehouses along with creating integrated network of local logistics and distribution system to capture the markets," said Mr Rakesh Kumar, Executive Director, EPCH.
Buyers from US, UK, Japan, Australia, France, Germany, Spain, Denmark, Thailand, Malaysia, UAE, South Africa, Lebanon, Syria, Argentina, Brazil, Switzerland, Sweden, Israel, Latin America and CIS came to source their requirements. The next fair is scheduled to be held from October 15 to 18, 2010 at the same venue. EPCH, in coordination with the Jodhpur Handicrafts Exporters Association, would also organise the Indian Furniture and Accessories Show from March 13 to 15 2010, at Jodhpur in Rajasthan.
Exports down
Handicraft exports had declined by 48.35 per cent in 2008-09 to $ 1.8 billion due to the global financial crisis.
But thanks to the demand revival in markets abroad, the decline in dollar terms was down to just 4.86 per cent during April 2009-January 2010 to $1.25 billion.
Source : Business Line