India Carpet Enterprises Are Involved In The US Economy
Some industries in India are also implicated in the US economic downturn. Recently, many carpet enterprises in India complained that they encountered a serious export crisis.
India's Uttar Pradesh is the main carpet producing area in India, where hand-made carpets are especially popular in overseas markets. In the past two years, the export volume of large and small carpets was around $20 billion, of which 60% of products were exported to the United States, so these carpets were also known as "dollar blanket". But this year, as global economic growth slows down, especially in the United States, sales of carpet are expected to drop to $15 billion a year. India carpet exporter: "now our US market has shrunk from the previous 60% to 50%, and it can be seen that the industry has been seriously affected."
The local industry believes that the industry of hand-made carpet is a labor-intensive industry. The development is slow and the government does not attach much importance to it. Now the world's economic environment is bad and exports are blocked. The carpet industry in Uttar Pradesh may shrink.
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