Chennai: Indian handicrafts are looking at non-traditional markets like Africa and Latam for growth. The focus market schemes and proposed trade agreements are expected to boost shipments in the coming years. Artisans too are showing interest in exploring these markets.
India’s total handicrafts exports stood at $3,573.49 million in 2017-18 and the country had less than 2 per cent share in the $400-billion global handicrafts trade. However, India can grow its share in the global trade by exploring new markets.
"Handicrafts industry has been witnessing an upward trend in the past few years. While the traditional western markets of US and Europe have consistently imported from India, demand for Indian handicrafts has been growing from Africa and Latin America,' said Pawan Gupta, Founder of Connect2India, which connects Indian and global MSMEs.
In 2018-19, handicrafts exports to Africa stood at $255 mn and to Latin American countries at $61 mn. In March 2019, the government proposed Africa to enter into free trade agreements or preferential trade agreements. This should help exports....