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India’s handicrafts exports to cross Rs 17,000 core end of 2015-16: Study

India’s handicrafts exports to cross Rs 17,000 core end of 2015-16: Study

New Delhi: According to a recently concluded sector specific ASSOCHAM study. India’s handicrafts exports are likely to cross Rs 17,000 crore mark by the end of current fiscal year of 2015-16 and is further expected to cross Rs 24,000 crore mark by FY 2020-21.

“Clocking a compounded annual growth rate of about 5.3 per cent during the 11 years period between 2001-02 and 2011-12 India’s handicrafts exports had crossed Rs 12,900 crore mark in FY 2011-12,” noted a study titled ‘Infusing vibrancy into Indian handicrafts sector,’ conducted by The Associated Chambers of Commerce and Industry of India

The ASSOCHAM Economic Research Bureau has arrived at the aforesaid projection on the basis of average of CAGR of India’s handicrafts exports and world merchandise exports that have grown at CAGR of about nine per cent during 2001-02 and 2011-12.