Economy

Handicraft exporters must insure, use verified timber to be competitive, says EPCH

Our Bureau | | Updated on: Nov 30, 2021
image caption

Export promotion body says Saharanpur in UP exported wooden handicrafts worth ₹1,000 crore in 2020-21

Handicraft exporters should know the importance of insuring their business, especially during the Covid-19 pandemic, and use only verified timber to comply with global norms, the Export Promotion Council for Handicrafts says.

“We are witnessing very uncertain times with the ongoing pandemic, hence it becomes even more important to insure the export merchandise,” Rakesh Kumar, Director General, EPCH, told exporters at an awareness seminar held for them at Saharanpur in Uttar Pradesh.

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Saharanpur is an important wooden handicraft manufacturing cluster, with exports valued at around ₹1,000 crore in 2020-21, according to an EPCH statement.

Alliance Insurance Brokers explained through a presentation how exporters can insure their business against risk, the statement said. Over 100 exporters from the region attended the seminar.

The exporters should also fulfil all compliances to establish the legality of the timber used, Kumar added.

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“The EPCH’s timber legality assessment and verification scheme — VRIKSH — is acceptable in 183 CITES signatory countries,” the statement said. The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) is an international agreement between governments. It aims to ensure that international trade in specimens of wild animals and plants does not threaten the survival of the species.

Kumar also stressed the importance of innovating products with the latest designs, as per global trends and forecast, to remain competitive in the international market.

Published on November 30, 2021

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