Handicrafts exporters are out to diversify their market base by wooing Latin American countries and other unexplored markets across the world, in the wake of a sharp decline in demand in major traditional markets in recent months due to the global economic meltdown.
As a step in this regard, a group of 35 handicrafts exporters are participating at a Festival of India, which was kicked off on November 5 at Buenos Aires in Argentina.
The product range includes furnishings, costume jewellery and accessories, Christmas decoration, incense sticks, and furniture and fixtures, apart from textiles and fabrics.
All along, the U.S. and Europe had been the main destinations for Indian handicrafts. U.S. alone had been traditionally accounting for about 40 per cent of the total handicrafts exports followed by Germany (about 15 per cent) and the U.K. (10 per cent).
In 2008-09, following the global economic crisis, exports of handicrafts from India had declined by 15.5 per cent in rupee terms and 26 per cent in dollar terms. The handicrafts section of the Festival of India has been put together by the Export Promotion Council for Handicrafts in collaboration by the Indian Embassy in Buenos Aires.
