Coir exports from India are likely to touch Rs. 12 billion-mark in the ongoing fiscal 2013-14, according to Madhav Lal, Secretary in the Ministry of Micro, Small and Medium Enterprises (MSME).
Speaking to reporters at the Coir Board pavilion, set up at the ongoing India International Trade Fair (IITF) in New Delhi, Mr. Madhav Lal said India’s coir exports are increasing at a healthy pace and may grow to Rs. 12 billion in 2013-14, owing to rising demand in the EU and the US markets.
Europe and the US together account for over 70 percent of overall coir exports from India.
Coir exporters are also receiving good orders from the UAE and some African countries, Mr. Madhav Lal said.
In 2012-13, India’s coir and coir products’ exports grew by 6 percent year-on-year to Rs. 11.16 billion, while they grew by five percent year-on-year in terms of volume to 410,854 tons.
From April to October 2013, India’s coir exports stood at more than Rs. 7 billion, according to the Coir Board, a statutory body established by the Government of India for the promotion and development of the coir industry.
In addition to undertaking promotional measures, the Coir Board also monitors the export performance of coir and coir products, which include mats, rugs, yarn and nonwoven products like geo-textiles.
Earlier this year, the Coir Board implemented a new marketing strategy to achieve a sales turnover of Rs. 30 billion in the domestic market by 2017, compared to estimated sales of Rs. 13 billion in 2013-14.