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Carpet
Expo opens in New Delhi
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Union Minister for Commerce Kamal Nath and Minister
for Textiles Shankersinh Vaghela inaugurating the
India Carpet Expo in New Delhi
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New
Delhi: Union Minister for Commerce and Industry Kamal
Nath and Union Minister for Textiles Shankersinh Vaghela
inaugurated the India Carpet Expo here on Thursday. India
is number one in the world in handmade carpet exports.
The total exports of carpet has reached the record 875.71
million dollars in the year 2007-08 as compared to 807.94
dollars of the year 2006-07. The Expo is a world acclaimed
established fair on handmade carpets and other floor coverings
in South East Asia, envisaging unique business oriented
platform to the importers and exporters. More than 200
exhibitors from Uttar Pradesh, Rajasthan, Jammu and Kashmir
are displaying their trend setting designs of handmade
carpets and floor coverings. Around 300 overseas buyers
from the US, Germany, France and Italy are visiting the
fair. The Indian carpet industry has the potential for
expansion since adequate skilled manpower and raw-material
is available and, moreover, Indian carpets have tremendous
flexibility and adaptability. The total export of carpets
including the handmade woollen tufted, handmade silk,
handmade staple/synthetic, cotton, rugs, druggets, and
durries during the year 2007-08 was US 875.71 million
dollars as compared to US 807.94 dollars in 2006-07. The
top exporting destinations are: USA, Germany, UK, Australia
and France.
Talking
to reporters on the sidelines of the Carpet Expo, Kamal
Nath said, "The government has rationalised the calculation
of foreign investment norms keeping in mind the compression
and depression in the global markets." "Now we have brought
the concept of ownership and control in management together.
We have integrated them and by this process, we expect,
there will be further inflow of foreign investment into
the country which is very essential at this point of time
without disturbing the question of ownership and control,"
he added. He also said that all efforts would be taken
to support the Indian economy in times of a global slowdown.
India does not allow foreign direct investment in multi-brand
retail and limits foreign investment up to 49 percent
in single-brand retail.
- Feb 12, 2009
