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Published
Jul 28, 2022
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Jaipur Rugs to create 5,000 jobs in two years

Published
Jul 28, 2022

Carpet and textile business Jaipur Rugs plans to create 5,000 new jobs in the coming two years in technical and non-technical sectors as the business eyes Rs 1,000 crore revenue this fiscal. 

Jaipur Rugs aims to expand in India and internationally - Jaipur Rugs- Facebook


Jaipur Rugs is planning a large-scale expansion of its production and business capacity for which it plans to bolster its workforce, ET Retail reported. The business aims to continue to expand both in India and internationally, now sending its India-made products to retail in 80 countries.
 
“Business sentiment was indeed down with the concern of inflation which is on an eight year high,” said Jaipur Rugs’ director Yogesh Chaudhary, ET Retail reported. However, other factors including relaxed Covid-19 regulations and increasing demand have negated the negative effects of inflation which gives the business a positive outlook this financial year, according to Chaudhary. 

The business has been experiencing a compound annual growth rate of 38% and reported a revenue total of Rs 776 crore in the 2022 financial year. This has led the business to set its revenue prediction for the 2023 financial year at Rs 1,000 crore.  
 
Jaipur Rugs opened a store in Milan, Italy last year and is experiencing increasing demand in European markets. The business specialises in luxury handmade rugs, carpets, and textiles and earns around 85% of its revenue from exports. 

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