Craft exporters should know the importance of insuring their business, especially during the Covid-19 pandemic, and only use verified timber to meet global standards, according to the Export Promotion Council for ‘Arts and crafts.
“We are living in very uncertain times with the ongoing pandemic, so it becomes even more important to insure export goods,” Rakesh Kumar, managing director of EPCH, told exporters at an awareness seminar held. for them in Saharanpur in Uttar Pradesh.
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Saharanpur is a major wood craft manufacturing cluster, with exports valued at around 1,000 crore in 2020-21, according to an EPCH statement.
Alliance Insurance Brokers explained in a presentation how exporters can insure their businesses against risk, the statement said. More than 100 exporters from the region attended the seminar.
Exporters must also meet all the conditions to establish the legality of the timber used, Kumar added.
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“EPCH’s timber legality assessment and verification system – VRIKSH – is acceptable in 183 CITES signatory countries,” the statement said. The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) is an international agreement between governments. It aims to ensure that international trade in specimens of wild animals and plants does not threaten the survival of the species.
Kumar also stressed the importance of innovating products with the latest designs, in line with global trends and forecasts, to stay competitive in the international market.