100 crore project to set up an international local trade centre is underway.
The Indian handicrafts market, which constitutes about 1.6% of the world markets is set to recover from the world economic slowdown, if reports from US and EU are to be believed. There seems to be more good news coming for the handicrafts sector with, EPCH (Export Promotion Council for Handicrafts) planning to set up an exclusive SEZ for handicrafts at Greater Noida or Haryana so as to empower SMEs.
After contracting by an alarming 48% in 2008-09, exports of handmade items, one of the worst sufferers of the economic meltdown have shown an improvement in the first month of this fiscal and are likely to enter the positive terrain in the next two months.
With global economies recovering from the economic downturn and recession, the demand seems to be growing. So in order to tap the growing demand of handicrafts in global markets, EPCM is looking for an exclusive SEZ for handicrafts in Delhi-NCR region. “Handicrafts sector is one of the largest foreign exchange earners. The exclusive SEZ for handicrafts will provide a globally competitive and hassle free environment for small exports of handicrafts”, said a senior executive at EPCH.
EPCH with the help of GOI, is planning a 100 crore project to set up an international local trade centre so as to strengthen the handicrafts sector.