Carpet Exports On A Recovery Path

Although the carpet export sector in India witnessed tough times in 2008-09 and the first few quarters of 2009-10, January 2010 has started off on a positive note for small-scale carpet exporters, with the sector registering an impressive growth during the said month. The rise in growth of carpet exports has made the SME-dominated sector hopeful that the upward trend is expected to continue for the coming quarters.

Things looking up on the export front

Indian carpet export sector registered a growth of 8.5% in January this year, indicating that the global demand has finally picked up momentum. Demand resurgence in key Western markets has come as a relief for SME carpet export units, which have been battling with dwindling sales and plunging bottom lines since the onset of the global economic downturn.

Speaking to reporters on the sidelines of the inaugural function of India Carpet Expo 2010, Thiru Dayanidhi Maran, textiles minister, stated Increase in the number of buyers in the chief export destinations such as the European Union (EU) and the US as well as surge in export orders for carpet have signaled recovery from recessionary pressures for the carpet export sector.

As per data from the Carpet Export Promotion Council (CEPC), Indias carpet exports stood at US$413.30 million for April-January 2008-09, while it was estimated at US$406.11 million for the corresponding period in 2009-10, thereby recording 1.73% fall in total carpet exports over 1 year. However, the sector has now started moving towards recovery.

The export growth recorded in the first month of 2010 has given a much-needed impetus to small-scale carpet export units, making them hopeful that trading conditions will improve in the days ahead, said S Kumar, proprietor of Gopal Carpet House, a small-sized carpet export firm in Jaipur.

Although the sector is showing signs of revival, it would still take some time for SME carpet exporters to recover their losses fully and attain their pre-crisis growth levels.

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About the Author:
David Parks is a well known author and has written articles on Toys Suppliers and Apparel Suppliers, suppliers, Manufactures and many other subjects.

Article Originally Published On: http://www.articlesnatch.com

Tags: Carpet export sector , India , SME carpet export units , global

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