Welcome MIQ
July was a dynamic month for Panache Interiors, marked by exciting projects and networking opportunities! 🎉
We were thrilled to be assigned a new project for MIQ, which promises to be a fantastic opportunity for us to showcase our expertise. Additionally, our team, led by our managing director Vinay and supported by Abhimanyu attended the CAI Exhibition in Chennai. This business trip allowed us to explore industry trends and connect with key stakeholders, further strengthening our position in the market.
A month filled with opportunities and growth! 🚀✨
The Handwoven Carpet Industry: A Beacon for Economic Growth and Job Creation
India’s handwoven carpet industry is emerging as a significant contributor to economic growth and employment, especially for women, according to a recent study by IIM Bangalore and King’s College London. With a median turnover of Rs 1.5 crore, this industry showcases strong vertical integration and a focus on exports, with regions like Rajasthan and Uttar Pradesh leading the way.
In Rajasthan, an impressive 97% of carpet firms are primarily exporters, followed closely by 81% in Uttar Pradesh. These states cater predominantly to the mass market, exporting to countries like the USA and the UK. In contrast, Kashmir excels in the luxury carpet segment, with Germany and the UAE being the primary destinations for its intricate handwoven creations.
While Uttar Pradesh and Rajasthan have embraced innovation in design, the study emphasizes the need for improved market linkages and export assistance to unlock the industry’s full potential. By enhancing these areas, India’s carpet sector could further drive exports and create more employment opportunities, particularly for women artisans across the country.