This week, while monitoring the development of handicrafts in India, I met two important innovations. The first story, that the job exceeded the annual target and is now among the fastest in areas emerging from recession. The goal of $ 990 million has been convincingly that was passed this year, exports of handicraft sales to $ 1.024 billion. It ‘is understandable that the Indian government also revised upwards its export target for the craft fiscal year. The second story that caught my attention was that the Indian government is ready for some more incentives for the provision “not strong” for sectors such as handcrafts. Although the craft sector to achieve the goal remains one of the most vulnerable sectors where growth is still not completely stable. Sources say the measures will be announced in mid January.
A sector-level analysis of performance by the Indian government has shown that labor-intensive industries such as clothing and crafts, we need more measures for the consolidation of growth before they can be self-sufficient in the long run. This leads by a point, that the government of India today very seriously the problems of small and medium-sized enterprises and aggressive steps to solve their problem is. From now on, the value of exports of handicrafts from India, is not very significant, however, remains a major source of employment. United States remains the largest market for Indian handicrafts exporters, followed by the United Kingdom. United States and European Union together for 70 percent of total exports of handicrafts from India.
The exports of handicrafts from India were badly hit by the global economic slowdown. After nearly 11 months of darkness, exports turned positive in September 2009. In all honesty, we can say that at the end of 2010, handicraft industry is compensated for growth seriously and has positioned itself as a major player on the world market. There is something at the end of December and every glimmer of hope that next year would forever change his luck. For all measures have been announced or are yet to be announced, expect the exporters of handicrafts better and more profitable 2011th.