India strives to double share in handicraft trade
New Kerala
New Delhi: Commerce and Industry Minister Kamal Nath Thursday said a number of export promotion measures would be undertaken to double India’s share in the world handicrafts market from the present two percent.
Exports of handicrafts from India are poised for a quantum jump, having already crossed the $2.9 billion mark during 2004-05. One of the highest export revenue earners, the handicrafts sector had recorded 29 percent growth in the 2004-05 fiscal.
Currently the global market of gifts and handicrafts is worth $235 billion, Kamal Nath said inaugurating the spring Indian Handicrafts and Gifts Fair (IHGF) in Greater Noida on the outskirts of Delhi.
A total of 1,875 exporters are participating in the five-day fair. Over 7,000 overseas buyers representing importers and wholesalers from 57 countries are expected to visit the annual event showcasing art metalware, home utility items, fashion accessories, textiles, furnishings, furniture, floor coverings and decorations among others.
The government attaches top priority to exports from the handicraft sector and “we would strategise promotion measures to increase India’s share in the world market”, the minister said.
He assured government support to a proposal by the Export Promotion Council for Handicrafts (EPCH) for creating a corpus fund for improving infrastructure for the handicrafts sector in India.
EPCH is implementing various export promotion measures such as projecting northeast India’s crafts in the world market, setting up common facility centres, technology upgradation centres, reverse buyer-seller meets, market surveys, opening showrooms abroad under the various schemes of the ministry of commerce and industry.
