Economy, Domestic Economy
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Plan to Upgrade Machine-Made Carpet Industry

Plan to Upgrade Machine-Made Carpet IndustryPlan to Upgrade Machine-Made Carpet Industry

Minister of Industries, Mines and Trade Mohammad Reza Nematzadeh says his ministry plans to utilize financial resources from the National Development Fund of Iran to upgrade the machine-made carpet industry.

He made the remark during his visit to two machine-made carpet factories in Aran-Bidgol region in the central Isfahan Province, IRNA reported.

Nematzadeh said 500 factories in Aran-Bidgol annually produce 45 million square meters of rugs.

“Despite the general belief that textile factories in Iran are on the brink of bankruptcy, some factories are currently generating annual profit of more than 40%,” said the minister.

Over the past two decades, machine-made rugs have become the carpet of choice among many Iranian consumers owing to their low cost and diverse designs.

More than 9 million square meters of machine-made rugs worth about $110 million were exported during the past Iranian year (ended March 20). China, Turkey and Canada are among major buyers of Iran’s machine-made carpet.

Financialtribune.com