India's handicraft exports are expected to nearly double during the current fiscal to Rs 7,000 crore and further increase to Rs 24,000 crore by FY 2020-21 on account of increasing demand in Western markets, according to an Assocham report. In 2014-15, the country's handicraft exports stood at about Rs 9,000 crore.
“The exports are likely to reach Rs 17,000 crore mark by the end of current fiscal and is further expected to cross Rs 24,000 crore mark by 2020-21,” the report said. It further said the exporters need to focus on areas such as design, innovation, technology upgradation and adequate financing to increase production and competitiveness in the global market.
The exporting community should also invest in research and development and keep on upgrading their capabilities to provide a variety of products, it added. UP has the maximum number of 325 handicraft clusters of the total 2,864 across India.