Carpet Export Promotion Council (CEPC) chairman, Kuldeep R. Wattal said that the 31st edition of India Carpet Expo in New Delhi generated business worth about Rs. 260 crore to Rs. 300 crore. On the concluding day of the four-day expo, he said that a growth rate of about 10 per cent to 15 per cent in dollar terms and 15 per cent to 20 per cent in rupee terms is expected this year.

The Expo would lead to opening up of new market opportunity for the industry and will help small and medium Indian carpet exporters in promoting their products in overseas countries. The Expo showcased the products of more than 270 reputed small, medium and large manufacturers and exporters from all over the country.

The chairman said the government has set up an export target of Rs.10,000 crore ($1591 million) for carpets and floor coverings for the fiscal year 2015-2016, which, he said, shall be achieved.

Four hundred and ten buyers from 58 countries participated in the Expo. Buyers from countries like Zimbabwe, Vietnam, Palestine, Bulgaria, Israel, Egypt, Poland, Ukraine, Malaysia, Mauritius, Taiwan, Serbia, Colombia and Hungary made their maiden appearance at the expo, a release said.

Earlier inaugurating the event on March 11, textiles minister, Santosh Gangwar assured carpet manufacturers and artisans that the government will continue to support the industry and its export efforts in every possible way.

Gangwar expressed his happiness at the number one position held by the Indian handmade carpet industry in the international market. He said the Indian handmade carpet industry is growing at 17 per cent per annum, despite a weak global demand.