The carpet industry in India has been going through very hard times as after the implementation of goods and services tax, there is a decline of 5.58 percent in the exports of the carpets. In comparison with the exports of 2016-17 of 9993.93 crores, this time it could only reach 9436.62 crores in 2017-18 FY.
According to the statistics of Carpet Export Promotion Council, after the implementation of goods and services tax, silk carpets have seen a decline of 44.81 percent while the hand knotted and hand tufted market came down to 5.51 percent and synthetic carpets saw a decline of 2.48 percent.
It is also to be seen that if the government doesn’t relax the provision for the industry in the GST e way bill than there might be more worst time waiting for the carpet industry.
According to the industry person, the carpets are expensive so their demand is less which implies that the industry was already reeling under the lesser demand which further got impacted by the goods and services tax.
The council always makes a target of higher exports and sales up to 10 percent which in turn states that the target could not be achieved even at the last year’s sales. The tension also prevailed earlier which was resolved after the industry turned out some protest against the government.
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