Amit kumar d8
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The Kashmiri carpet industry is mainly export-oriented, exporting carpets worth Rs. 5500 Crore while domestic consumption is only Rs. 550 Crore. It faces main challenges of competition from other countries like Bangladesh, economic stress in main markets like the US and EU, rupee depreciation, and bans on products from conflict zones. The government provides incentives like tax benefits, skill development courses, and loans through Mudra Bank to support the industry. Initiatives are being taken to centralize production centers, expand to new markets, develop skills, and align with online portals.
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Amit kumar d8
- 1. KASHMIRI CARPET INDUSTRY: A DETAILED ANALYSIS AMIT KUMAR D8
- 2. CARPET INDUSTRY: AT A GLANCE Mainly export oriented Export worth Rs.5500 Crore Domestic consumtion only Rs.550 Crore Highly labor intensive Disorganized sector
- 3. MAIN CHALLENGES Competition from other nations especially Bangladesh Economy of main markets like USA and European Union are under stress Depreciation of Rupee Many countries are banning products from conflict zones, ex- Blood Diamond from west Africa New generation moving towards better career options Improper Marketing
- 4. GOVERNMENT INCENTIVES Tax Benefit • Reduction of Import tariff on raw material • Rebate in VAT, Excise, etc Skill • Short term courses by IICT to enhance efficiency Loans • Providing loans through Mudra bank • Giving short term concessional loans
- 5. CARPET INDUSTRY INITIATIVE Centralizing the various centers Creating awareness in Indian market by trade fairs Expanding to other nations, apart from traditional countries Skill development Aligning with online portals like Flipkart and Snapdeal Mechanizing some of the processes