Buoyed by rising demand from emerging markets like China and Latin America, India’s carpet exports posted a seven percent year-on-year rise during January 2013.
Exports grew from US$ 70.5 million in January 2012 to US$ 75.4 million in January this year, the Carpet Export Promotion Council (CEPC) data shows.
Segment-wise, handmade silk carpets, handmade woollen tufted carpets and synthetic carpets registered the highest year-on-year growth at 21percent, 11 percent and 5 percent, respectively, during January this year.
In April-January 2012-13, India’s carpet exports posted a year-on-year growth of seven percent and grew to US$ 809 million.
CEPC foresees the country’s overall carpet exports for the current fiscal rising above last fiscal’s US$ 808 million to touch US$ 1 billion.
However, it noted that though exporters are meeting good demand from emerging markets like China, Africa and Latin America, demand from traditional markets like the EU and the US, which jointly claim around 60 percent of India’s total carpet exports, is yet to perk up.
The carpet sector provides direct employment to around 2.5 million people in the country.
