Pashmina Is Hot
NEPAL’S exports industry has traditionally been confined to a few items.
Just a couple of them used to be the biggest foreign exchange earners rivalling tourism
until some years ago. While some exportable items naturally would do much better, for
various reasons, compared to some others, it is nonetheless an uncomfortable situation to
be riding just a couple of items for far too long. Carpets and garments have been the
traditional exportables. The dependence on these two items meant that when some market
adversity befell either one of the two items, Nepal’s foreign exchange dwindled to
that extent. That such a situation was allowed to continue too long had to do with the
absence of efforts in exports diversification in terms of exportables. Then pashmina
popped up on the scene. Suddenly it was a rage in the international markets. Nepal’s
handwoven pashmina went from strength to strength. Thus, one more item joined Nepal’s
skimpy list of hot exportables. A recent news report says the increase in pashmina exports
has been quite notable. According to the figures supplied by Nepal Handicrafts
Association, which certifies hand-crafted pashmina, some 5.6 billion rupees worth of
hand-woven pashmina was exported in 1999-2000. This is a huge jump on the previous
year’s figures which were 280 million rupees. Another good trend is that most of the
Nepalese pashmina now go to countries other than India to which some 80 per cent used to
be exported only a few years ago. Obviously, the pashmina, from there, would travel onward
to final destination markets. Now exports to India is only 30 per cent. That tells a
story. Apparently, Nepalese pashmina traders are getting smarter and getting in touch
themselves with buyers in the rich countries, bypassing themiddlemen. From all
prognostications, Nepalese pashmina will see further growth in the days ahead. The
international markets have warmed to it conspicuously. The going is good. But a caution is
required. Manufacturers and traders must ensure that this hot item does not suffer from
any possible aberrations that often accompany an industry growing too fast. While they
must seize the market opportunities available wherever, they must ensure full quality
control in production. The industry has to form standards and monitor compliance. The
government, for its part, must do what it can to allow this forex earner to grow
unhindered and allow it to continue to remain a hot exportable.
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