New Delhi, Oct 13 (IANS): Union Minister of State for Textiles Santosh Kumar Gangwar will on Wednesday inaugurate the 40th edition of the IHGF Delhi Fair Autumn 2015, which is expected to see the participation of over 5,000 global buyers like Walmart and Carrefour.

The five-day event, claimed to be the world's largest handicrafts and gifts fair, is being organised by the Export Promotion Council for Handicrafts (EPCH) at the India Expo Centre and Mart in Greater Noida near here.

"Over 2,700 exhibitors of handicrafts from all over the country will exhibit a wide range of products spread over 14 halls covering around 1,90,000 square metres," the textile ministry said in a statement.

More than 5,000 overseas buyers, including major brands like Walmart and Carrefour, are expected to source their requirements from this fair.

"These volume buyers will be from countries like the United States, the United Kingdom, Japan, France, Italy, Canada, Switzerland, Norway, Sweden, China, Australia and many more," the statement said.

Buyers from the Latin American region, particularly Argentina, Colombia, Brazil, Panama, Chile and central Asia, Africa and the Middle East will also be sourcing their requirements at the fair.

During 2014-15, handicrafts exports recorded a growth of around eight percent in rupee terms and nearly seven percent in dollar terms.

The EPCH was established in 1986 by the ministry of textiles to promote exports of handicrafts. It is also a registering authority for exporters of handicrafts.