India’s exports increase as demand for Christmas and New Year season gifts increases

India’s exports have risen in the holiday season, owing to increased demand for New Year and Christmas season gifts, reports say. Exports of categories like gems and jewellery, apparels, handicrafts seem to be on the rise, reports say. Prominent retailers like Wal-Mart, Macy's, Tesco, Marks & Spencer have increased their orders with the country retailers.

Reports say, Wal-Mart has increased its buying from India to meet New Year season demand for products like home textiles, apparel, leather accessories, fine jewellery, and houseware. Tesco is sourcing increased volumes of textiles and hardlines, including glassware. According to Federation of Indian Export Organisations’ estimates (FIEO), India’s export of gift items for the New Year has increased by about 20 percent. India’s exports saw a rise in November when it shot up by 18 percent and reached $13.3 billion, a figure reached after 13 months.

The Gem and Jewellery Export Promotion Council (GJEPC) states that the country’s exports of gems and jewellery during November shot up by over 47 percent as compared to the corresponding period last year. Indian retailers have also been busy tapping new markets for exports like Latin America, Japan, Korea and South Africa, apart from traditional markets like US, Europe and Australia.