More than 8 000 buyers from across the world have converged in Harare, the capital of Zimbabwe for the 24th edition of the Indian Handicrafts and Gifts Fair, the largest in Asia, which started recently.

The four-day fair, launched in 1994, is only open to overseas buyers. About 2000 exhibitors of woodcraft, furnishings, textiles, jewellery, crotcheted goods, artware and metalware, among others, will be at the expo, organised by India's Export Promotion Council For Handicrafts (EPCH).

Buyers from South Africa, United States of America, United Kingdom, Germany, France, Italy, Japan, Russia, United Arab Emirates and Norway, among other countries, are already here to attend the fair, held twice a year. Exhibitors were on Monday putting the finishing touches, as they seek to maximise on benefits accruing from this window to global buyers.

India has emerged as one of the major suppliers of handicrafts to the world market. Over the years, the fair has given a boost to the Indian handicrafts industry, which employs more than six million people. An EPCH spokesperson said the objective of the fair was to bring before the world the entire range of gifts and handicrafts from all parts of India.

"The fair offers a huge business opportunity to the exhibitors and presents overseas buyers the facility of direct interaction with the manufacturers who come from all the craft pockets of India which is otherwise not possible at any other point of time during the year," he said.

The handicrafts sector is strategic in the India economy, particularly for small enterprises, most of which are based in rural areas. Last year India realised about US$3,8 billion from handicraft exports, up from US$3,3 billion in 2005. The handicrafts industry is catching on to the bullish Indian economy that has seen total exports reach US$90 billion over the past year. The country's foreign currency reserves have risen to US$200 billion.

The Export Promotion Council said interest in the handicrafts fair had grown in leaps and bounds, particularly in the last few years. The number of exhibitors had grown from 313 in 1994 to the present 2000 while exports had grown 10-fold in the last few years, thanks to aggressive marketing.

"Overseas buyers have increased drastically over the last two years due to the publicity launched for the promotion of IHFG (India Handicrafts and Gifts Fair). The export business generated in the last two years is the highest and has shown an upward trend."

Mauritius, Turkey, Switzerland, Greece, Holland and Latin America were some of the countries that had shown keen interest in the fair.

For India, the labour-intensive industry had potential to create more jobs for the poorer section of society. The low capital investment, high value addition, negligible import content and high potential for export earnings made the handicrafts sector a key weapon for the alleviation of poverty. In Zimbabwe, this sector also contributes significantly to the economic well-being of many families both in rural and urban areas despite its informal status.

Over the past two decades, women have been exporting handicrafts to countries such as South Africa, Botswana, Zambia, Namibia and recently to as far as China and Singapore, among others, earning foreign currency in the process.

Mr. Divya Aggarwal

Money Management Consultants Ltd

Senior Copy Editor, Money Management Consultants Ltd
New Delhi, India

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