The Export Promotion Council for Handicrafts (EPCH) has said the Severe Acute Respiratory Syndrome (Sars) will cause significant losses for handicrafts exporters.
The cancellation of two export fairs in Hong Kong, which were expected to generate nearly Rs 1,000 crore worth of business for the Indian handicrafts industry, had made a huge dent in exports estimates.
The industry may now have to revise its $1.95-billion export target for the current financial year.
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"We had set a 20 per cent growth target for 2003-04 with handicraft exports expected to touch $1.95 billion. Though we will try to achieve the target, the effect of Sars will make things tough for exporters," Rakesh Kumar, Executive Director, EPCH, told Business Standard.
Two fairs