The Hindu Business Line : Ministry sanctions Rs 50 lakh for global coir fair

Kochi, Oct. 1 To provide a major exposure to the coir industry in the international market, the Coir Board is organising India International Coir Fair-2007 from December 7 to 11 at Kochi.

Mr Jairam Ramesh, Union Minister of State for Commerce, said that the industry is targeting 100 foreign buyers and a large number from the inland market. The Board hoped to generate a business of Rs 100 crore in foreign exchange.

The Ministry has sanctioned Rs 50 lakh for the fair and around 100 stalls would display various coir products. The Minister said that the fair would be held after a gap of 6 years and would become a regular event.

Targets

According to the Minister, the coir industry is hoping to achieve a target of Rs 750 crore during 2007-08, of which Rs 400 crore is expected to come from coir mats and mattings alone. During the last financial year, coir exports touched Rs 605 crore. If the momentum continues, coir exports can easily touch Rs 1,000 crore shortly, he added.

The coir industry is the one sector where rupee appreciation has not made impact on exports. Coir exports expected to touch a revenue of $165 million in 2007-08 as against $136 million in 2006-07. There is a growing environmental consciousness and recognition for natural fibre worldwide, he added.

Upgrading infra

Alappuzha has been chosen for implementing the industrial infrastructure upgradation scheme and the Centre has sanctioned Rs 56 crore, of which Rs 42.50 crore comes as Government grant.

The Commerce Ministry has provided financial assistance to the Coir Board to participate in international fairs and exhibitions for the first time. Moreover, the Chairman of the Coir Board has been made a member of the Board of Trade, he added.