Strong demand from the US, Europe, Australia and Latin America boosted handicrafts exports by 22.15 per cent to $3.30 billion in 2012-13 defying an overall downturn in exports.
Exporters are hopeful that the sector would grow by another 20 per cent this fiscal despite uncertainty in Europe if the Government comes up with supportive measures in the Foreign Trade Policy to be announced next week.
“As cost of credit has become a big cause of worry, we are hopeful that the Government will increase the interest subvention rate to 5 per cent from 2 per cent and extend the scheme for at least five years,” said Export Promotion Council for Handicrafts Director, R.K. Verma, at a press conference.
The handicraft industry also wants the Government to expand the list of inputs covered in the duty-free import certificate under which the sector is allowed to import certain inputs duty-free. “The needs of our industry are changing. The list has not been revised for long. We want a steering committee to be put in place which would take a re-look at the list and revise it from time to time,” said Rajesh Rawat, a Delhi-based handicrafts exporter.
In a bid to attract more global buyers,EPCH is organising a mega fair in New Delhi starting next week showcasing a wide variety of products including furnshings, floorings, textiles, furniture and houseware.
“Leading chain stores an boutique owners from the US, EU, Latin America, Central Asia and African continents will visit the fair which is expected to generate business worth Rs 1,500 crore,” said Verma.