In a rich cultural heritage holding country like - India, the handicraft industry is one of the most ancient art than any other craft industry. Ranchi is the most mineral rich state of India and it is also rich in the traditional art and culture. There is a lot of the rural and urban areas which are a rich intensive labour areas which is a boon for the increment of the handicraft industry.
India has a rich country of 26 districts, 18 languages and more than 1500 dialects. Each and every state provides something unique handicraft products and varieties and it has been providing the most of employment opportunities to more than six million artisans. This sector becomes important for the point of view of the low capital investment.
The SWOT analysis of Jharkhand handicraft product is important due to following reasons -
cheap labor rate
high ratio of value addition
international level of quality standards
aesthetic and functional qualities
increasing emphasis on product design and upgradation
rising utilities for handicrafts in the developed countries
growth in search made by retail chain and suitable product and supplier opportunities
use of e-commerce in direct marketing
widespread novelty seeking
opportunities for international promoting agencies