Analysing the Consumption and Production Dynamics in the Local Handicrafts Industry

Author(s)	Myiesha Manchanda
Country	India
Abstract	This research project is a take on the rich history of ancient Indian handicrafts and artefacts. It aims to explore how centuries of invasions and colonial rule and the roadmap of policymaking of independent India have influenced and impacted the industry. The research paper has tried to provide valuable insights into the complex dynamics between consumption and production patterns and the market demand and supply of the products sold. Moreover, this project analyses the export and import ratio of the industry, the revenue and employment it generates, and its contribution to the nation's GDP. It also aims to answer several essential questions: What are the key hurdles and challenges faced by the industry? How has the government responded to these problems? Have the policies and incentives introduced by the government gained momentum? What are the current trends in the industry, and can we expect to see potential expansion in the domestic market and an increase in exports? Will the sector attract foreign investment and finally see foreign countries as potential markets?
Keywords	Traditional Techniques and Styles, Globalisation, Consumption and Production Dynamics, Export and Import Ratio, Revenue and Employment, Foreign Trade, Expansion of Domestic Market
Published In	Volume 6, Issue 6, November-December 2024
Published On	2024-12-31
DOI	https://doi.org/10.36948/ijfmr.2024.v06i06.34344

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