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INDIAN RUGS INDUSTRY: REGAINING ITS POSITION IN THE GLOBAL MARKET

Arun Kumar Sharma, MD, DPS Export, hailing from #Varanasi, the hub of carpet making, with two and half decades of deep-domain business experience in #RugIndustry, underscores how this industry has been evolving over a period because of the adoption of technology and how the players in this sector are striving to come in terms with the new normal. A tete-a-tete with T.I.W.

#1. Where does Indian rug industry stand globally?

Indian Rug Industry being one of the biggest suppliers of handmade carpets has captured a significant pie of the global market. The global market for #Carpets & #Rugs is estimated at US$32 billion in 2020 and is projected to reach a revised size of US$38.8 billion by 2026, growing at a CAGR of 3.3% over the analysis period. Primarily, tufted carpets witness strong demand due to their stain-resistant nature and long life. The requirement for such luxury always depends on the global market trends and need of the riches. The last few years have been full of struggle for most of the players in India and the whole industry needs a reasonable support from the banks, especially after the stagnation caused by the #COVID19 pandemic.

#2. How has technology interventions changed the carpet industry?

Technology has certainly made drastic changes to traditional carpet business and has made it easier for manufacturer as well as buyers. It has effectively changed the whole marketing strategy for manufacturers, exporters & agents, but it is reducing broadness of the industry as well. Only well versed and established players can abide by its requirements; the rest are struggling to get there.

#3. Does #eCommerce have any impact on the domestic market?

Rug Industry is taking baby steps towards #eCommerce. It is yet to make bigger impact, but I am sure it will play a pivotal role in business in times to come. Predominantly, it has shown the global reach and that’s what the industry needs now. The effects of e-commerce are yet to be witnessed in domestic market.

#4. What is the Indian share in global carpet business? Is it satisfactory?

Irrevocably, Indian Rug Industry has been a big part of the global carpet business, but we still have lots of scope given the changes that took place during the last decade. We, being a handmade industry, are getting strong competition from machine-made carpets which are way cheaper.

#5. What’s your take on new design, new fabric and their influence on rug sector?

It is very much impactful as it has allowed us to introduce many new versions of rugs to the market. Previously restricted to indoor use, new fabric has allowed us to come up with manufacturing of rugs for outdoor use and these rugs surely had totally different setup hence, new designs are evolving. This has brought a whole set of new range of carpets not only in looks but in terms of quality, durability, and price as well.

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