Global recession has forced Indian carpet exporters to change their business strategy, which now focuses on cutting prices using alternative quality, an exporters' body has said.
India's carpet exports declined to $50 million in September this year from $74 million a year ago. Almost 50 per cent of the country's exports go to the US, which is witnessing the worst economic crisis after the Great Depression of 1929.
"We are focusing on a new range of carpets which are cheaper and can be easily affordable by the common man," Carpet Export Promotion Council Chairman Ashok Jain told PTI.
Costs can be reduced by 'alternative quality' and producing different varieties, he said.
As the situation is worsening in the US, exporters are facing order cancellation, industry officials said.
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