Demand for gifts in the Christmas and New Year season is huge in countries like US and Europe. India exports gems, jewellery, leather, handicrafts and apparel to various countries for these special occasions. This year there has been a significant growth as the export of gift items from India for the Christmas and New Year has increased by around 20 percent. Federation of Indian Export Organisations (FIEO), India’s apex body of export promotion organisations, estimates that merchandise exports would touch $14-billion mark in December.
Large retailers like Wal-Mart, Macy’s, Marks & Spencer and Tesco have increased their orders this year. Indian exporters have used innovative gifts and pricing strategy to improve their sales. As Indian exporters provide high quality products at competitive prices, major retailers have increased their orders this year. This has brought a much needed respite for exporters who have seen decline in their sales previously due to global recession. With Christmas and New Year season bringing good cheer to exporters, the trend is expected to continue as Western economy is on the revival track.
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