Handicrafts exports could register a growth of 10-15 pc in 2021-22: EPCH

New Delhi, July 21 (PTI) The country’s handicrafts exports are expected to grow 10-15% in current fiscal year due to healthy demand in key destinations such as the United States and Europe, Export Promotion Council for Handicrafts (EPCH) said.

EPCH President Raj Kumar Malhotra, however, said growth could be affected in the event of the third wave of the COVID-19 pandemic.

“Based on the current trend, we expect 10-15% growth for this fiscal year. Exporter order books are good and there is good demand in our core markets in the US and Europe.” , did he declare.

Exports from April to June 2021 rose to Rs 3,447.71 crore from Rs 1,259.34 crore during the same period last year.

Malhotra said government support, such as releasing funds under India’s Merchandise Export Program (MEIS), will help boost outbound shipments.

There is a huge demand for handicrafts in the world and e-commerce can help attract new consumers, he said, adding that special provisions should be made in the forthcoming foreign trade policy (FTP) on the market. e-commerce.

“In order to encourage overseas warehousing for B2B e-commerce purposes, special arrangements can be made in the FTP,” the president suggested to the government.

He said that since the goods will be placed in a warehouse and will be sold according to orders received from abroad, this will lead to installment payment, therefore special concessions for these exporters regarding the partial settlement of Des BRC (certificate bank reconciliation) can be performed.

He added that there is a need for digital integration of several interfaces such as the Central Council of Indirect Taxes and Customs (CBIC), the Department of Posts (DoP), the General Directorate of Foreign Trade (DGFT) and the Goods and Services Tax Network (GSTN) to facilitate e-commerce exports. PTI RR YEARS YEARS

Warning :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

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