Indian Handicrafts Industry Swot Analysis

Strengths:
1. Indian Handicrafts Industry has a diversified and potential market in domestic & international platform.
2. It provides large product variety and range as it is full of diversified culture.
3. Industry is facilitated by diversified and supportive retail infrastructure acros the country.
4. Industry provides srvices to different market (Handicrafts, Textiles, Jwelry) bcaue of diversified product range.
5. Labor rates are cheap and it results to competitive price.
6. Industry needs low capital investment.
Low barriers for new entry in market.
7. Industry provides potential sources of employment.
8. Products are high value added, and handicrafts have various applications.
9. It is the potential source of foreign revenue because of higher export.
10. Industry provides potential sources of employment.
11. Products are high value added, and handicrafts have various applications.
12. It is the potential source of foreign revenue because of higher export.

Weaknesses:
1. Industry is lacking with infrastructure and communication facilities.
2. There is unawareness among craftsmen about international requirements and market.
3. Lack of co-ordination between government bodies and private players.
4. Inadequate information of new technology and developments.
5. Inadequate information of current market trends.
6. There is lack of skilled labor in indutry.
Industry is still confined to rural areas and small cities and not able to reach untapped market.
7. There is lack of promotion of products.

Opportunities:
1. Emerging demand for handicrafts goods in developed countries such as USA, Canada, Britain, France, Germany, Italy etc.
2. Rising demand and usage of handicrafts products in fashion industry.
3. Development of sectors like Retail, Real Estate that offers great requirements of handicrafts products.
4. Developing of domestic and international tourism sector.
5. e-Commerce and Internet are emerged as promissory distribution channels to market and sell the craft products.

Threats:
1. Competition in domestic market.
2. It is challenge to have balance between high demand and supply of products.
3. Quality products produced by competing countries like China, South Africa.
4. Competing countries are offering better Trade Terms .
5. Competing countries are offering better technological support and R&D facility in competing countries.

To know more about Indian Arts & Crafts visit Indian Handicrafts Industry