Journal Press India^®

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Globalization came into existence, bringing countries into the competitive world with substantial prospectus to the developing countries like India. It has to open the economy to foreign direct investment by providing facilities and removing the constraints for the foreign companies to invest in different fields in India. It also encouraged the Indian companies to collaborate with the companies abroad that means local to global making the world a global village. It has increased the international integration among nations with the exchange of trade, technology, investments, capital and labor but it has resulted in the provocation like income gap between the rich and the poor, environment degradation, disparity, conflict and loss of culture. It is in need of an hour to protect and promote the artisanship for the economic growth of the place and the country as whole. Handicraft the benchmark for creativity is a significant segment of the decentralized economy of the country and it provides competitive advantage for the country in the global market. The industry provides employment to the millions of people who are basically women and people from the vicarious actions of the society. The success of handicrafts depend on the artisan by industrializing their process so that they can be recognized in the local, national and local markets.The industries encountering a large number of problems like lack of liquidity and non availability of the credit which is required for the artisan to achieve an equitable bargaining relationship with the distributing firms. It is a hindrance to obtain raw material of good quality at low cost in spite of the reason that the raw material used is produced locally. It is the anomaly of the handicrafts that there is less demand of machinery to labor and they are refrained from the modern technical know how to improvise the traditional methods, to create strategies for marketing the products as the cost of promotion and selling of the product is high and facing competition with the machine made products. The right to circumstances in this industry is that there is a strong traditional knowledge base which is valuable both culturally and socially and the historical assets of the communities maintain, practice, develop and treat the products in the market and this result in income generation and economic development of the region, enormous skilled labours having skill sets education, training, experience and systematic reasoning, as handicrafts are subject to the country its funding, development and promotion is the responsibility of the government; To increase the potential as the market in handicrafts is gaining momentum and says the production is restrained to small scale industries the benefit would be for the individuals involved in the handicraft industry.

Keywords

Globalization, handicrafts, traditional knowledge, economic development, export potential

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