“A guy walks up to me and asks 'What's Punk?'. So I kick over a garbage can and say 'That's punk!'. Then he kicks over the garbage can and asks “That's Punk?', I say 'No, that's trend!'” -

Billie Joe Armstrong

News reports confirm that India's handicrafts industry is in a healthy state and is poised for further growth. As last heard, India's handicraft export grew by about 19 per cent (approx. over $154.16 million) in May, thanks to the increasing demand from the US market.

Another report confirms the surge and even predicted that buoyed by an increase in demand from the US and Europe, India's handicraft exports may even touch the Rs 10,000 crore mark in the current fiscal year.

Among such rosy predictions we decided to delve deep into the so called forecasts and do a reality check ourselves for the upcoming trends and challenges. Below is a sneak peek on what can Indian handicrafts exporters expect in the upcoming year.

Use of protectionist measures from the western economies

Loss of employment, crashing markets and dwindling economy will result in open advocacy of protectionist measures in the next few months. The concept of Globalization would be challenged by it own very founding fathers.

Aggressive Chinese intrusion

China is on the rise. Its manufacturing units are more than prepared to flood the market with their surplus product, in an attempt to change the rules of the way trade is conducted worldwide.

Demand for non controversial work conditions

Developed countries will use this as one of the weapon from their artillery to counter the industrial growth of developing economies. This holds the potential to create a major stand off among the world leaders specially at the G-20 meet ups. In addition to that, businesses will be encouraged (with more intensity) to use greener technologies and cleaner resources to manufacture their products.

Heavy usage of social media / online promotion

More and more companies will create their online presence. Usage of social media will gradually speed up and push companies to change the way they conduct their business over the net. SEO will find it more challenging to maintaining their clients reputation online.

Emergence of demand for indian goods specially from the new locations

So far the US and EU together account for 70 per cent of the country's handicraft export. However the slump in economy has challenged the power equations across the globe resulting in emergence of new locations with growing buying power. Make no mistake , new markets like Latin America, Africa and Eastern Europe are the next exciting names to do business with.

Conclusion

Overall the picture looks somewhat balanced, reflecting upon the upcoming challenges and showing a ray of hope as well that a solid platform has been setup for Indian handicrafts exporters to take on the world stage. Hope 2011 prove to be an exciting year for the Indian handicrafts exporters and their sales surges to record levels.

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