FDI Inflows to Coir

FDI Inflows to Coir Industry in India has been estimated to USD 49.69 million from 1st August 1991 to 31st May 2003. The coir industry provides employment to over 3.75 lacs workers among which 76 percent are women workers.

The Coir Industry in India-

The Coir Industry in India has been concentrated in Kerala since past few decades. The coir industry provides employment to over 3.75 lacs workers among which 76 percent are women workers. The coir industry has decided upon providing 50 percent subsidy on their capital investments which amount to ` 10 lacs per unit.

Besides, the state government has also planned to introduce the existing units in the co-operative sector as well as in the private sector. Introducing private sector participation in the coir industry in Kerala is on the agenda. The coir industry has accounted for a total expenditure of ` 30.52 crores for implementing various plan schemes.

Export Market of Coir Industry-

The export market of the coir industry has witnessed a significant rise especially in the exporting of handloom mat, tufted mat, coir pith, power loom mat, rubberized coir and coir fiber. During the year 2004-05 the export production of coir and coir products from India has been estimated to be 122926.78 tones which stood at ` 47340.27 lacs. India exports the maximum coir products to United States. Some more countries which receive coir products from India include Germany, UK, France, Netherlands and Italy. Coirfed is entirely an export-oriented unit in Kerala which is also known as the Apex Federation of Primary Co-operative Societies. The turnover of Coirfed has been estimated to be ` 14.50 crores during the year 2004-05.

FDI Inflows to Coir-

FDI Inflows to Coir Industry in India has been estimated to be around ` 50.17 crore which is approximately USD 1.12 million from April 2000 to August 2007. FDI Inflows to Coir Industry in India have been quite encouraging in terms of carrying out various activities such as establishment of manufacturing units for coir products and also introducing export-oriented units for the same to bring in more revenues.

Last Updated on 4/23/2011