This project involves the creation of a detailed export compliance report for carpets and other floor coverings (HS Code 570232), with a focus on exports from India to Switzerland. The report was developed as part of the MBA-IB 2022-24 program at the Indian Institute of Foreign Trade, New Delhi.
- Introduction
- Product Selection and Market Selection
- Non-Tariff Measures (NTMs) Imposed by Switzerland
- Export of HS Code 570232 from India
- Import of HS Code 570232 into India
- Carpet Export Promotion Council of India
- Innovations in the Carpet Industry
- Global Value Chain
- Recommendations and Conclusion
The report delves into HS Code 570232, covering man-made textile materials, including various types of carpets. In 2022, India was the top exporter under this HS code, accounting for 46% of global exports.
A detailed analysis was conducted to select the most suitable product and export destination. HS 570232 was chosen based on various trade metrics, including Export Propensity Index and Revealed Comparative Advantage. Switzerland was selected as the target market due to favorable trade indices and import penetration.
The report outlines specific NTMs imposed by Switzerland, such as preferential treatment under the India-EFTA TEPA agreement and technical barriers to trade, including restricted use of certain substances.
India's exports under HS Code 570232 are significant, representing 46.2% of world exports. The USA, Germany, and Australia are the top three destinations.
India imports a small portion of this product, with the Netherlands, Germany, and the UAE being the top suppliers.
The CEPC plays a crucial role in promoting carpet exports, providing support to exporters through trade delegations, exhibitions, and advocacy.
The report highlights technological advancements such as smart carpets, augmented reality for customer visualization, and 3D printing, which are transforming the industry.
The global value chain for carpets is analyzed, emphasizing the stages from raw material sourcing to the production of finished goods.
The report concludes with strategic recommendations to enhance export competitiveness and diversify export markets for Indian carpets, aligning with national export targets.
This brief overview of the Global Export Compliance Report aims to provide insights into the Indian carpet export industry, focusing on compliance, market selection, and innovative trends driving the sector forward.