Aritra Mitra, Aniket Panja and Rohit Prasad
Handicraft is about processing materials by hand with hand tools. The result can be helpful or decorative things. The materials used in this process are natural, industrially processed or maybe recycled. The models of the product are ancient, revised traditional or fashionable.
Overview
Before industrial development, the handicrafts industry was a potential economic advantage for the country. In recent years, the importance of handicrafts has surged due to their cultural and financial values. The small scale industries – including handicrafts can play a major role in the development of the economy of both the developed and the developing countries. The 90-95% of the total industrial products of the world is produced in small workshops run by less than 100 people.
The Indian handicraft industry is one of the largest employment generators and accounts for a significant share in the country’s exports. The industry is fragmented and unorganised with more than seveb million regional artisans and more than 67,000 exporters promoting regional art and craftsmanship in the domestic and global markets.
The total export of handicrafts from India is expected to nearly double to $2.7 billion in FY 2015-16 and is expected to increase further to $3.8 billion by FY 2020-21. In 2015-16, Indian handicrafts export stood at $4.5 billion which is up by approximately 15.4% of the previous year’s exports. Exports of Indian handicrafts have increased at around 16.4% since the last five years.
Denne historien er fra August 1 - 15, 2018-utgaven av BUSINESS ECONOMICS.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra August 1 - 15, 2018-utgaven av BUSINESS ECONOMICS.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Elections 2024: Illusion & Reality
Whenever there is an election, we find the politicians speaking in hyperboles – and possibly, 2024 Lok Sabha has reached a crest.
Government initiatives aim to bolster rubber cultivation and innovation
Rubber tree plantation has seen significant growth in India, thanks to robust government oversight and favorable weather conditions.
Macron speaks on Europe's economic fragility
Many heads of state often speak on topics over which they have little control or vested interest.
Indian industries stand to benefit in raising of tariff on Chinese imports to the US
A delicate balance of power and influence exists between the United States of America and China.
Chabahar Port Agreement: Part of India's strategic and economic vision for Central Asia and Europe
On May 13, India and Iran signed a 10-year contract to operate the Chabahar port in Iran.
It is quite incredible to see things of interest happen with the blessings of the divine trio
Swamiji once said, “The wind of divine grace is always blowing. You just need to spread your sail.
The battle for sustainability: Earth Day's message of 'Planet vs. Plastics
World Earth Day, observed annually on April 22 worldwide, commemorates contemporary environmental advancements and promotes awareness of the imperative to conserve Earth and its resources.
Mother Teresa International Award 2024: Celebrating Humanity and Service
The Mother Teresa International Award, a prestigious honor recognizing individuals dedicated to serving humanity, will host its 2024 ceremony in Dubai, United Arab Emirates.
Can India get out of the middle income trap?
In the mid-1980s, international financial institutions moved away from calling their member countries as poor and rich countries, or as developed and less developed countries.
How is India's falling household savings rate worrisome for its development?
There has been a sharp reduction in the household net financial savings rate in 2022-23, leading to an overall decline in the financial savings rate.