This one product is being exported from India in crazy numbers and I couldn’t have guessed it...



I was reading the latest export report by Govt of India today and found that...


👉🏼 Over Rs 2400 crores of carpets and handicrafts have been exported just in the last month, and India exports USD 2 Bn worth of carpets and handicrafts annually!!


Anyway, that led me down the rabbit hole and here’s what I found...


👉🏼 India exports about 85-90% of the total carpet production and is the largest exporter in the world. India is responsible for around 40% of worldwide export of handmade carpets.


👉🏼 Almost 60% of all carpets go to the US, followed by Germany, UK, Australia and UAE.


👉🏼 Countries like Brazil, Chile, Argentina, Norway, Sweden, Australia & New Zealand have good potential to grow India’s carpet exports and that’s where lies a niche to focus on.


👉🏼 Anyway, I looked up the financials of Jaipur Rug Company, and they did over Rs 230 crores of revenues in FY22 with an EBITDA of over Rs 40 crores, which is an ~18% EBITDA... crazy good!


👉🏼 Another player called Art Collection did Rs 70 crores of revenue and Rs 11.5 crore of EBITDA, again over 16%


Most of the production happens in the Northern belt of the country from J&K, Punjab, Haryana, Himachal, Rajasthan and UP.


The Carpet Export Promotion Council keeps organizing expos where buyers from around the world come to buy. For context, 292 buyers came for the expo that was held in March 2023.


👉🏼 The India Carpet Expo is happening in Bhadohi, UP from 8th-11th Oct, a “High Point Market” event happening in North Carolina, US immediately after from 14th Oct, and then exhibitions in Germany in Jan 2024.


Any of these events would be great to understand pricing, international consumer preferences and to establish a first level network if someone wants to dive in. A fair bit of information is available on [ Ссылка ]


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So many ideas, so many distractions! But hold fort, pick one, and go all in. Focus and tenacity of execution is where the EBITDA lies, not just in the idea.




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A Chartered Accountant with about 10 years of experience in areas of Tax Advisory, Startup Consulting, Fundraising, Audits, Deal Advisory, Business Modelling and contract CFO services.


Winner of the ISB Young Leader Award 2017 and the Best All Rounder, PGP Class of '17, Sarthak has also been published about in the leading financial newspapers such as The Financial Express as possibly the youngest Indian to have completed the courses of CA, CS and CMA along with a graduate degree in Financial & Investment Analysis from University of Delhi, all by the age of 23 years.

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