Have you ever wondered why India is so
renowned for its craftsmanship? Well, we are here referring to a nation of fine
craftsmen who possess the dexterity to include minor felicities in their pieces
of art. The handicrafts sector is having a hold of great degree of magnitude to
the Indian economy’s GDP as it is one of the prime employment generators and
account for a significant share in the country’s exports. The multiple sectors
in the nation contribute notably to the handicrafts production. The Indian handicrafts
industry is constituted of more than six million artists and over 70,000 export
houses promoting craftsmanship in the global markets.
Handicrafts produced by India are having a
reach to various markets of manifold nations, top 5 destinations being the US,
the UK, the UAE, Germany and France.
The statistical data of production in 2020 is as follows: (the figures are a carefully approximated)
- Wood wares at $ 400million
- Embroidered & crocheted goods at $ 300million
- Other Assorted handicrafts at $ 500 million
- Hand printed textiles at $ 150 million
- Imitation jewellery at $ 90 million
- Art metal wares at $ 250 million
Furthermore you would also be amazed to know that the Government of India increased incentive rates under the commodities Export from India scheme (MEIS) to 7% for handicraft items. The same is highly likely to boost the surplus and would help exporters to recover the cost of production at an ease.
How
does supplier4buyer contribute to the Handicrafts industry?
Supplier4buyer is India’s leading B2B e-commerce website, listed in the India exporters directory. The same is successfully connecting millions of verified suppliers and Indian manufacturers to the best buyer in the market. It is currently dealing in the goods offered by 27 distinct industries, one of which is of the Handicrafts and Decorative.
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