Problems facing the Indian artifacts sector
The handicraft and handloom sectors are an Rs 24,300 crore (USD 4.48 bn) industry contributing Rs 10,000 crore(USD 1.85 bn) to India’s export earnings of Rs 1.62 lakh crore (USD 300 bn), as per the 12th five-year plan working document. The global market for handicrafts is USD 400 billion, of which India’s share is below 2%, representing a tremendous growth opportunity and have a competitive advantage. However despite the great potential that the space offers, there is not enough efforts taken by the government to boost the sector.From lack of organised help, to funds, to no access to markets -- the list of concerns is a very long one. Today we take a look at some of the problems facing the sector. Read in detail about the problems facing this promising sector here on Social Story.
