India's Carpet Exports Grew by 2% and Reached US$ 85.65 Million in August 2013

India’s carpet exports grew by 2 percent year-on-year and reached US$ 85.65 million in August 2013, owing to increasing demand from emerging markets like China, Latin America and Africa, according to data provided by the Carpet Export Promotion Council (CEPC).
 
In August 2012, India’s carpet exports stood at US$ 83.39 million.
 
The demand for Indian carpets has been reviving in the US market, whereas it is still low in the European markets, Business Standard reported quoting PTI.
 
However, the demand for Indian carpets has been rising in emerging markets such as Latin America, Africa and China, according to the CEPC.
 
Traditionally, the US and the European markets together account for more than 60 percent of India’s overall carpet exports.
 
The maximum growth in exports of carpets in the month of August were registered in the categories of handmade silk carpets which grew by 12.50 percent year-on-year, handmade woolen tufted carpets which recorded an increase of 5 percent, and handmade synthetic carpets which rose by 10 percent.
 
From April to August 2013, the country’s total carpets exports stood at US$ 457.36 million, which is an increase of 11.11 percent compared to the same period last fiscal.
 
In fiscal year 2012-13, India’s carpet exports earned over US$ 1 billion in foreign exchange.