India's exports of handicrafts grew by 10 percent year-on-year to US$ 205 million in July 2013 due to the rising demand from markets like US, China and Latin America. According to the data provided by Export Promotion Council for Handicrafts (EPCH) in India, the exports of handicrafts stood at US$ 185.88 million during the same period last year, The Economic Times reported quoting PTI.
Rakesh Kumar, Executive Director of EPCH, said there has been a rise in the demand of handicraft products from markets like China, Latin America and Africa. The demand from the US market has been increasing but the demand in European markets still remains sluggish, he added. US and Europe together account for 60 percent of India's total exports of handicraft products.
The handicraft exporters are exploring new markets such as China, Latin America and Africa to reduce dependency on the traditional markets. Ravi Passi, Founder of RK Arts and former chairman of EPCH, said the presence of handicraft items in new markets such as China and Latin America is expanding and the products are finding popularity.
This trend is expected to continue for the coming months, he added. In the period of April-July 2013, the exports of handicraft items grew by 12 percent to US$ 869 million compared to the same period last fiscal. Last fiscal, India achieved its handicraft export target of US$ 3.3 billion. Jaipur, Jodhpur, Saharanpur and Moradabad are the main handicraft centres in India that serve as a source of livelihood for over one million people, and cater to the domestic as well as international markets. (Source:Fibre2fashion)