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Post at: Aug 06 2022

'Lota Shop'

Why in News?

  • On June 14, 2022, the Minister of State Textile has inaugurated the 'Lota Shop' at National Crafts Museum, New Delhi.

Key points regarding Lota Shop 

  • The Lota shop derives its name from the most celebrated vessel of everyday use “Lota" found in so many designs and mediums across India. 
    • The Lota Shop by Cottage provides a unique opportunity for craft lovers both domestic and international, to pick up a quintessential piece during a visit to the Indian Heritage National Crafts Museum.
  • Central Cottage Industries Corporation of India Limited (CCIC) has opened a new 'Lota Shop' outlet at crafts museum.
    • It showcases fine handcrafted curios, souvenirs, handicrafts and textiles.
      • It is based on the traditional craft forms of India.
    • It is a step towards the government's vision of  'One District One Product'.
      • It will give impetus to the Handicraft sector as well as the Artisans.

Status of trade of  Handicraft Sector in India

  • In March 2022, the total handicraft export excluding handmade carpets from India was USD 174.26 million which was an 8% increase from February 2022.
    • During 2021-22, the total exports of Indian handicrafts were valued at USD 4.35 billion; a 25.7% increase from the previous year.

Significance of this Sector

  • India is one of the largest handicraft exporting countries.
  • It is one of the largest employment generators after agriculture.
    • Handicraft is one of the most important sectors in the Indian economy employing more than seven million people.
  • It is  providing a key means of livelihood to the country’s rural and urban population.
  • It is an eco-friendly sector that functions on a self-sustaining business model.

Challenges

  • This sector is facing challenges like-
    • Inaccessibility of funds.
    • low penetration of technology. 
    • Absence of market intelligence.
    • Poor institutional framework for growth.


 


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