Indian Handicraft Exports Got The Target of Us$ 3.3 Billion Set for Fiscal Year 2012-13

Despite lower demand from some of the key Western markets, Indian handicraft exports have achieved the target of US$ 3.3 billion set for fiscal year 2012-13.
 
The items that posted highest year-on-year export growth during the period include shawls as artwares, whose exports jumped by 55.5 percent year-on-year and hand printed textiles and scarves, whose shipments grew by 19 percent year-on-year.
 
According to the Export Promotion Council for Handicrafts’ (EPCH) statistics, the sector’s exports for 2012-13 are 22.15 percent higher than 2011-12’s exports of US$ 2.7 billion.
 
The Council expects India’s handicraft exports to grow further by 20 percent in fiscal 2013-14.
 
Conventionally, around 60 percent of India’s handicraft exports are destined towards the EU and the US.
 
EPCH Vice-Chairman Arshad Mir said while demand from the EU moved sluggishly, the 2012-13 target was achieved mainly due to good demand from the traditional US market, as well as from new markets such as Africa, China and Latin America.
 
Eyeing a further push, the handicrafts sector has called on the Government to make provisions under the forthcoming Foreign Trade Policy to be released on April 18, to prolong the interest subsidy scheme for another five years and also to enhance the subsidy rate from current two percent to five percent.
 
The interest subsidy scheme, which was due for conclusion in March this year, has already been extended further for one more year.
 
Meanwhile, the Council has also sought addition of more items to the embellishment items benefit list, which allows an exporter to import specified raw materials without any duty imposition. The list presently contains 25 items.
 
Moradabad, Jodhpur, Jaipur and Saharanpur are key centres for making handicrafts in India. The sector serves as a source of employment for around one million people.