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INDIAN HANDICRAFT INDUSTRY

INDIAN HANDICRAFT INDUSTRY. BY: RASHMI VERMA IBR 5006 SEC-Q. KEY FACTS OF INDIAN HANDICRAFT INDUSTRY. India’s rich cultural diversity and heritage provides a unique and huge resource for developing craft products.

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INDIAN HANDICRAFT INDUSTRY

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  1. INDIAN HANDICRAFT INDUSTRY BY: RASHMI VERMA IBR 5006 SEC-Q Rashmi Verma IBR 5006

  2. KEY FACTS OF INDIAN HANDICRAFT INDUSTRY • India’s rich cultural diversity and heritage provides a unique and huge resource for developing craft products. • Handicrafts industry is one of the important segment of decentralized sector in India. • According to the national census of handicrafts, undertaken by the National Council for Applied Economic Research the value of handicrafts produced last year were of Rs.26,213 Crore. • Provides huge employment opportunities to artisans that include women and people belonging to backward and weaker society (6 million artisans). • The Indian Handicraft Industry is a $100 billion industry worldwide. • India’s contribution in world market is 1.2% • The total exports of crafts items: - Rs. 13412.92 Crore. • Industry’s share in India's exports:- 1.51 % Rashmi Verma IBR 5006

  3. Rashmi Verma IBR 5006

  4. HANDICRAFT ITEMS Handicrafts products can be distinguished into following: • Metal ware • Wood ware • Hand printed textiles, • Embroidered goods & Shawls • Carpets • Bamboo products • Zari goods • Imitation jewellery • Paintings & Earthenware • Jute products, • Marble Sculpture • Bronze Sculpture, • Leather Products and • Other miscellaneous handicrafts Rashmi Verma IBR 5006

  5. EXPORT OF INDIAN HANDICRAFT • Indian Handicrafts and Gifts Industry : a rapid growing industry with a turnover from US $ 1.2 million to US$ 1.9 billion in the last decade. • A consistent annual growth rate of more than 15 per cent over a 10-year period, from 3.6% to a respectable 10% share in global handicraft exports. • In 2005-2006 the exports of Indian handicrafts has shown an increase of US$ 298.87 million, i.e. the exports increases by 10.02% over the similar period during 2004-2005. • The industry is expected to triple its export turnover to Rs. 39,000 crore by 2009-10 • Create around 20 lakh new job opportunities.  Rashmi Verma IBR 5006

  6. MAJOR IMPORTERS Rashmi Verma IBR 5006

  7. Export Promotion Council for Handicrafts (EPCH) • A non-profit organization, established under the EXIM policy of Government of India in the year 1986-87. • Under the aegis of Development Commissioner (Handicrafts), Ministry of Textiles, Government of India • Website: www.epch.in Rashmi Verma IBR 5006

  8. MAJOR OBJECTIVES • Providing commercially useful information and assistance to members in developing and increasing exports. • Offering professional advice and services to members in areas of technology upgradation, quality and design improvement, standards and specifications, product development, innovation etc. • Organizing visits of delegation of its members abroad to explore overseas market opportunities. • Organizing & Participating in specialized International Trade Fairs of handicrafts & gifts. • Interaction between exporting community and Govt. both at the Central and State level and representation in almost all the committees / panels of Central and State and represents in almost all the committees / panels of Central and State. • To create an environment of awareness through Workshops on "Export Marketing, Procedures and Documentation", Packaging, Design Development, Buyer Seller Meet, Open House etc. interaction with Central and State Govt. and various other similar programmes. • Dissemination of government notification, orders, information on trade and other relevant information to members. Rashmi Verma IBR 5006

  9. SWOT ANALYSIS STRENGTH • Large, diversified and potential market. • Strong, diversified and supportive retail infrastructure. • Cheap labor rates that result to competitive price. • Need low capital investment. • There is flexible production flexibility. • Easy creation and development of production centers. • No need for macro-investment. • Industry provides potential sources of employment. • Products are high value added, and handicrafts have various applications. • Potential source of foreign revenue because of higher export. WEAKNESS • Lack of infrastructure and communication facilities. • Unawareness about international requirements and market. • Lack of co-ordination between government bodies and private players. • Inadequate information of new technology. • Inadequate information of current market trends. • Less interest of young people in craft industry. • Lack of skilled labor. • Still confined to rural areas and small cities and untapped market. • Lack of promotion of products. Rashmi Verma IBR 5006

  10. OPPORTUNITIES • Rising demand for handicraft products in developed countries such as USA, Canada, Britain, France, Germany, Italy etc. • Developing fashion industry requires handicrafts products. • Development of sectors like Retail, Real Estate that offers great requirements of handicrafts products. • Development of domestic and international tourism sector. • E-Commerce and Internet are emerged as promissory distribution channels to market and sell the craft products. THREATS • Competition in domestic market. • Balance between high demand and supply. • Quality products produced by competing countries like China, South Africa. • Better Trade terms offered by competing countries. • Increased and better technological support and Rand D facility in competing countries. Rashmi Verma IBR 5006

  11. THANK YOU Rashmi Verma IBR 5006

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