Why the Indian handicraft industry is booming

One of the most important industries in India, currently making many headlines, is the Indian handicraft industry. For decades it has remained one of the instrumental industries in India for being one of the biggest job creators. The cottage industry is still considered, even though it has evolved as an important income generator for the country. Handicraft items are known for their versatility as the material used to make these products is environmentally friendly.

Online trading has added the fuel required for the industry with many players entering the online craft space. And the online boom has definitely generated additional interest from countries like the United States, Canada, Great Britain, France, Germany, Italy, etc. Given the credits to India’s rich history, the demand for handicraft products made in India is selling like hot cakes and increasing with each passing day.

Increased demand for Indian artisan products has given the opportunity for small local manufacturers to increase their sales and become a national or global seller. Customers need to take a lot of the cake as they now have so many options to choose from and there are so many ways to connect with the seller or manufacturer.

All things considered, India’s cottage industry is still fragmented with more than 5 million regional artisans and more than 60,000 exporters / export houses, promoting regional arts and crafts in national and global markets, most of them which are made up of women and people who belong to weaker communities. There has been a steady 15% growth in the industry year over year. And such robust growth has caught the attention of many prominent Indian personalities, the most recent and most notable being the Prime Minister of India, who spoke about the Indian handicraft industry and its growth prospect during his Start- up India celebrated. in January 2016.

Artisans create new and creative products and designs every day. Be it clocks, vases, home decor, home furnishings, etc. The demand for all these products locally and internationally is immense and every day more emerging companies are venturing into this industry due to the potential of this type of product.

Although the industry figures are positive, what remains to be seen is that the industry is mainly spread throughout the country, mainly in rural areas and small towns. Since it is the industry where a macro investment is not needed, and it can be started from home on a small scale.