Meet the handmade and craft-led MSMEs (HCMs) who could just help India reach her goal of a $5 trillion (₹400 trillion) economy.
The driving force behind the CMH sector, they are market-aware, business-oriented, and are moving ahead with clear intent — to build profitable businesses that are purpose-first.
A new breed of young, dynamic, ambitious enterprises are leading a handmade revolution.
We find that six unique segments make up India’s HCMs
Early value-chain innovators creating new, sustainable input materials using upcycling + recycling methods
New-age enterprises that build differentiated, scalable, online brands leveraging social commerce
Nonprofits or social enterprises working with artisan clusters in rural India
Online marketplace aggregators of artisan clusters, smaller and larger HCMs, and other brands
Tech-based disruptors looking to modernise a traditional system
Premium / high-end conscious luxury brands catering to a smaller, more discerning market
Note: Percentages based to total sample size in BoH’s Funding for Handmade Survey (2022-23) of HCMs i.e. N=516; market size of Input Innovators, Process Enhancers, Online Aggregators likely to be larger in reality.