Economy, Domestic Economy
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New Competition for Persian Rugs

New Competition for Persian RugsNew Competition for Persian Rugs

Cheap labor has given India and Pakistan a chance to grab hold of a market that Iran used to be a byword for: the hand-woven rug market, said the head of the Sellers of Hand-Woven Carpets Guild. Worker wages constitute 80% of the total costs of making a rug, therefore the end-prices of rugs increase when wages go up, ISNA quoted Mojtaba Araqchi as saying.

Financialtribune.com