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Handicraft Exporters Enjoy BoomHandicraft industry is one of the productive industries where creativity, growth and development is never ending. If we spend time to calculate the growth of this industry; the best part this year would be its exceeding on growth target. This is no doubt a very positive thing. It makes us proud to say that handicraft industry has exceeded its growth target in year 2010. Moreover, it is the only industry of its kind to cope up and move out of recession. The happiest part of the story is that handicraft exporters India have successful surpassed its target of 990 million dollars. The turnover of handicraft exporters India in 2010 was 1024 million dollars approximately. The government of India had increased the target of the handicraft exporters.
Good news for the not so strong or rich sectors is that the government of India has decided to provide more incentives to these sectors that include handicraft industry. No doubt the handicraft industry was successful in attaining its set target and even surpassed it; still the industry is among the most fragile sectors that does not have stable growth chart. According to various news sources, it is well said that the measures or incentives will be announced in the middle of January.
Industry-wide performance analysis undertaken by government of India has revealed that labor oriented sectors like apparel and handicraft severely require supportive measures for growth. These measures can stabilize their growth till they become strong and self sustainable. All this proves that government is very serious and undertaking necessary measures to resolve the issues of small to mid level industries like handicraft exporters India or handicraft industry as a whole.
Currently, the value of handicraft exporters India is not very significant as besides all odds it still remains a big source of employment. It is noteworthy that the largest market for handicraft exporters India and authentic handicraft exporters India is the U.S market after UK. Together they account for about 70% of total handicrafts exported from India.
Handicraft exporters of India were hit badly by the global economic slowdown and after struggling for about 11 months, this industry started on positive side in September 2009. With continuous effort and dedication handicraft industry has shown good results till the end of 2010. With the support and supportive measures announced by the government of India the handicraft industry expects much better results in the coming years.
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