US tariff cut brings fresh hope to Bhadohi carpet exporters
Varanasi, Feb. 5 -- Carpet exporters and entrepreneurs in the Bhadohi carpet hub are hopeful of better days ahead after the United States reduced tariffs on Indian carpets to 18% from 50%.
Carpet Export Promotion Council (CEPC) director Piyush Barnawal said, "The tariff reduction has come as a great relief to carpet manufacturers. We are hopeful of good days in the near future, as American importers may place fresh orders and consignments currently in transit may now be cleared."
He added that the move has infused fresh energy among carpet manufacturers across the Bhadohi carpet hub, which includes Varanasi and Mirzapur.
The Bhadohi carpet hub exports carpets worth around Rs.9,500 crore annually-Rs.4,500 crore through direct exports and a similar amount indirectly. Of this, nearly 60% is exported to the US, while the remaining 40% goes to other countries.
Aslam Mahboob, a handmade carpet factory owner, said the past six months had been extremely stressful, as American buyers put orders on hold due to high tariffs. "We expect new orders soon, and shipments in transit should also be received by American buyers," he said.
Entrepreneurs said that due to the steep 50% tariff, many factories were on the verge of closure and millions of artisans faced unemployment. With the deal now finalised, the path for exports has become smoother.
The carpet industry, considered the backbone of the economy in Bhadohi and Mirzapur, exports about 60% of its products to the US. Exporters are optimistic about positive outcomes, noting that dialogue with foreign buyers has resumed to restore the disrupted export chain....
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