Coir Board expects export of coir products to surpass Rs.572 crore
Fibre, pith, yarn, geo-textiles, cordages and ropes brought under the Focus Market Scheme Rs.13 lakh for the participation of the Coir Board in two international fairs
KOCHI: Export of coir and coir products from India between April 2006 and February 2007 has gone up by 19.5 per cent in quantity and 15.79 per cent in value.
The total quantity of exports stands at 1,45,902 tonnes valued at Rs.536 crore. This is against 1,22,084 tonnes valued at Rs.463 crore during the same period in the previous financial year.
Coir Board expects the export of coir products during 2006-07 to surpass the target of Rs.572 crore set by the Union Ministry of Textiles.
Export of coir and coir products from India has been increasing steadily during the past five years and the current financial year has been a good one for the industry.
The Union Ministry of Textiles has set an export target of $130 million (Rs.572 crore) for coir and coir products for the current financial year.
This is against the target of $85 million during the last financial year, indicating an increase of 53 per cent in the export target in dollar terms.
Meanwhile, fibre, pith, yarn, geo-textiles, cordages and ropes, coir garden articles, and so on, have been newly brought under the Focus Market Scheme through which export of all products to the countries notified under the scheme will be entitled to duty credit scrip equivalent to 2.5 per cent of the of the total FOB value of exports during each licensing year from April 1, 2006 subject to the conditions specified in the scheme.
Coir and coir products had also brought under the Focus Products Scheme in the second instalment of the 2004-2009 Foreign Trade Policy.
Export of products notified under the Scheme to all countries will be entitled to duty credit scrip equivalent to 2.5 per cent of the 50 per cent of the total FOB value of exports for each licensing year commencing on April 1, 2006.
The Union Ministry of Commerce has sanctioned assistance of more than Rs.13 lakh for the participation of the Coir Board in two international fairs one in the United States and the other in the United Kingdom.
The Board has also chalked out a plan for organising the participation of Indian coir industry in at least seven fairs targeting at the traditional export markets such as the U.S. and the European Union countries as well as emphasising the markets in South America, and the African countries.
The programme is subject to the approval of Union Ministry of Agro and Rural Industries.