The elimination of tariffs on textiles and apparel under the India-UK free trade agreement signed on July 24 will open up strong future opportunities for handmade products, an industry player said.
Leading handmade fashion and fibre craft supplier Magic Needles founder Heena Patel said India has an incredible pool of skilled artisans, and fair trade policies can help unlock global demand, giving artists and creators the platform and recognition they deserve.
Government support around streamlining access to subsidies, funding, and simplified export processes would help smaller brands scale and encourage more people to explore handmade entrepreneurship, Patel said.
Patel said that Magic Needles has consistently seen a double-digit CAGR in the handmade segment. "We closed the last financial year with ₹10 crore in revenue, and we expect to maintain similar growth going forward," Patel said.
The company has also launched four new yarns designed to meet the evolving needs of India’s growing community of knitters, crocheters, and collectible crafters
