IHDP to lure foreign buyers with 20$ mln project

New Delhi, June 16 (UNI) Seeking to lure foreign buyers towards the Indian home furnishings and accessories segments, International Home Decor Park (IHDP) has taken up a 20 million dollar pilot project, to bring the exporters and designers of the country under one roof.

Expressing serious concern over the lack of a better market for Indian decor products as well as the absence of a proper place to showcase their products, IHDP has taken on this 5-acre mega project, located on the Taj Express Highway, Noida, to meet the growing demands of the foreign buyers, who are entering India in search of quality merchandise.

''Over hundred buyers come to New Delhi everyday with a specific agenda, and rush to export areas specialised in any product. This leads to localisation of development and also narrows down the vision of the buyers and exporters,'' IHDP Director Aditya Gupta told reporters here.

IHDP will bring buyers, designers and exporters on a common platform which will provide a wide range of quality products for the foreign buyers, Mr Gupta added.

He said that their goal is for a comprehensive publicity of their products, which was still beyond recognition.

IHDP promises growth and exposure to the niche segment but challenges ahead are more to come, said Mr Gupta adding that wooing buyers would not be an easy task and a lot more would depend on the quality of the products in the final say.

Hiring exporters and their favourite designers will become easy for the buyers then it was ever before, said Mr Gupta.

Opportunities will galore for students studying at various fashion institutes, opening vistas for their exposure.

World imports of Home Decor products in the year 2004 amounted to a whopping 150 billion dollars signifying about 1.6 per cent of the total world imports of all commodities.

India's exports of the same product cluster notched a figure of 3.1 billion dollars in the financial year 2004-2005.

The home decor segment can broadly be divided into four segments that are floor coverings, textiles, gifts and handicrafts and hard goods (furniture and fittings).

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