Handicraft exports likely to grow 15% in FY14

Growing demand for handicraft items from China, Latin America and Africa might help exports

India's handicraft exports are expected to jump 15% to $3.8 billion in the 2013-14 fiscal, on account of growing demand for such items from emerging markets like China, Latin America and Africa.

 

In the last fiscal, these exports stood at $3.3 billion, according to the data provided by the Export Promotion Council for Handicrafts (EPCH).

 

"In the last fiscal, handicrafts exports touched $3.3 billion level. For 2013-14, we have set a higher target of $3.8 billion as exporters have been getting a good response not only from the US market, but also from new markets like China, Latin America and Africa," EPCH Executive Director Rakesh Kumar said.

 

However, he said, the demand is still sluggish in European countries. The US and Europe together account for about 60% of the country's total handicraft shipments.

 

During April-July 2013, handcrafted items grew about 12% to $869 million compared to the same period last fiscal.

    

Among the items that registered increase in the first four months of this fiscal, imitation jewellery saw the highest growth of about 37.11%, followed by woodwares 31.88%, shawls as artwares 31.69% and hand- printed textiles and scarves about 8%.

 

The handicraft sector employs one million people. Moradabad, Jaipur, Saharanpur and Jodhpur are the major handicraft hubs in the country catering to global markets.