Strengthening rupee forces decline in handicrafts’ export, says KCCI

Strengthening rupee forces decline in handicrafts’ export, says KCCI

SRINAGAR: Kashmir Valley witnesses decline in export of handicrafts as rupee has strengthened in the international market, Kashmir Chamber of Commerce and Industry (KCCI) said Saturday.
The chamber, which is one of the premier bodies representing business community in the Valley, said the exporters from Kashmir didn’t receive any orders at the Domotex Hannover-2015 fair held in Germany.
“The situation has arisen more because of the ‘appreciation’ of rupee value against Euro which as of now has been up by 10 per cent, causing a huge loss to the exporters on the export transaction recoveries,” KCCI said in a press statement issued here.
The information, it said, is based on the feedback from its President Sheikh Ashiq Ahmad, who visited the fair.
“He is feeling seriously concerned about the crisis in export market, especially handicraft export, as have been witnessed in the Domotex Hannover fair,” KCCI said.
“The situation…obtaining in the handicraft export market especially the silk carpets will render thousands of carpet weavers and other related artisans jobless,” it added.
The chamber asked the authorities to “work out some solution that would attract importers from other countries to place orders for Kashmir silk carpets.”
It asked the Financial Commissioner Industries & Commerce to talk to the concerned ministries in New Delhi about the issue.
KCCI also asked for “attractive export incentives for export of silk carpet, so that pricing of carpets is worked out in such a manner that it becomes competitive in the export market.”
The chamber’s President will also take up the issue in the State Level Bankers Committee (SLBC) for export meeting being held in Jammu on January 30, it said.