EXPORTING INDIAN HANDRAFTS

When it comes to the global handcraft business, India is a major player. The Indian handicrafts sector is decentralised and relies heavily on manual work from rural and urban locations throughout the nation. Many skilled workers only do their trade on the side. More than six million individuals, many of them women and members of society's marginalised groups, make their livings as craftsmen. The Handicrafts Industry is a major contributor to the national economy. It preserves the country's cultural traditions while bringing in significant amounts of foreign currency and providing work to a large number of craft people in rural and semi-urban regions. The growth of the handicrafts industry has enormous promise since it will provide employment and economic stability for a huge and growing number of people throughout the nation. The export and job markets now benefit greatly from handicrafts. The unorganised nature of the handicraft industry, along with the limitations of low levels of education, money, exposure to new technologies, market intelligence, and a weak institutional framework, has been detrimental to the growth of the industry. Despite these limitations, the industry as a whole has grown by an impressive 3% yearly. The industry is economically significant from the perspectives of cheap investment in capital, high ratio of added value, and high potential for exports and foreign currency profits, in addition to the high possibility for employment.