New Delhi, Oct 12 (KNN) Following growing demands from the west, India's handicraft exports are likely to meet the USD 4-billion target in 2013-14, hopes the Export Promotion Council for Handicrafts (EPCH).
In the last fiscal, exports were at USD 3.3 billion, as per EPCH data.
"We are hopeful that we will achieve this year's revised target of USD 4 billion as there is an increase in demand from western markets such as the US and also from emerging markets like Latin America, Russia and China," EPCH Executive Director Rakesh Kumar told reporters here.
However, the demand is slower in European markets, he said.
The US and Europe together account for about 60 per cent of the country's total handicraft shipments.
During April--September 2013, export of handcrafted items grew about 11.27 per cent to USD 1.56 billion as compared to the same period last fiscal.
In the last fiscal, these exports stood at USD 3.3 billion, said EPCH data. Recently, the Textiles Ministry had revised the target from USD 3.8 billion to USD 4 billion.
Indian exporters benefitted because of rupee depreciation, which gave them an advantage over the Chinese.
Also, many demands shifted from Bangladesh to India.
"We feel that Indian exporters are likely to benefit from China's decision to focus more on capital--intensive sectors than the labour--intensive ones. This has made inroads for Indian exporters to increase the share of handicrafts products in the global market," EPCH Chairman Lekhraj Maheshwari said.
To promote handcrafted exports, the council plans to organise a four-day fair titled 'Indian Handicrafts and Gift Fair' (IHGF) wherein more than 2,600 exhibitors would participate showcasing a wide variety including furnishings, decorative and wood ware.