Handicrafts products are made by hand, often with the use of simple tools and generally artistic and traditional. It is sometimes in the current scenario called Handomen craft (women handicraft) because most of the handicraft products are related to women artisans, and women have an apex role in the handicraft products of the rich Indian cultural heritage of the country. Indian handicraft industry is a decentralised, unorganised, labour-intensive cottage industry. The sector that has a strong potential to provide massive employment to the rural sector. However, it now faces several problems, and significant competition from machine-made and electronic products, and technology and artificial intelligence, and there is an increasing state of unemployment and jobless growth. For the welfare of Artisans especially women and their social and economic justice there is requirement of strong strategies for uplifting the standards of their life. This paper would discuss and cover important strategies in Handicraft sector and better labour relation, for their development and focused on level of Strategies and sustainable development of labour relation (SDR), Not only in India but also whole of the world and labour relation in management.

The Indian handmade carpet industry has various economic, social and national dimensions. The rich diversity of Indian carpets is a symbol of different cultures and traditions in this country like India and Iran. To ensure the sustainability of the knowledge digital and innovation system of the handmade carpet industry, in addition to considering the dominant approaches of the innovation systems, attention should be paid to the transformative approach that pursues holistic transformation in the production and consumption systems. The present study aims to identify formal transformation institutions, classify them into main categories and analyse them based on the production step, approval date, institution type and geographical area of approval. Based on the results, there are 316 formal institutions in the handmade carpet industry. By open coding, 372 concepts were extracted from 509 concepts derived from different formal transformation institutions. Based on the axial coding, the formal institutions were divided into six initial categories of ‘carpet authority’, ‘carpet sales and maintenance inside India’, ‘handmade carpet exports and imports’, ‘carpet production infrastructure’, ‘handmade carpet production’ and ‘sanitary-therapeutic category’. At the next step, the matrix of the main categories based on different production steps was drawn. Among the main categories, the highest frequency is related to the category of ‘carpet production infrastructure’ and the subcategory of ‘financial supply of carpet’. Although there are a lot of formal institutions that support production, carpet weavers as the main people involved in production have received minimum support during their working years due to unawareness of supports and loan conditions.

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The purpose of this paper is to give a separate index for the development of handicraft products developing sustainable completion and better utilization of the natural and rural industry and better completion in handicraft industries, conserving the heritage of all countries handmade tradition, the skill of artisans, making them entrepreneurship to artisans. Among them, we know that whole world is facing a big problem of plastic glass and other population and climate is also affecting due to environmental pollution in the world so if all want to maintain their life and living patter better and sustainable then they should have to make the product for their utility that is sustainable and utility decorative and that will have to give local job and enhancing the local talent of the artisan and rural, tribal people special women. We know that all are worker but want to be entrepreneur and earn their mount and increase the GDP of their country and in last want to be happy in the world so the objective to the paper is to develop and innovation and suggest first global handicraft index like global innovation index, global happiness index, global hanger index, global environments risk assessment index, and other index that have help the world each country for developing and giving better competition between the other sector, and other sector so in case of handicraft sector that artisans, and worker ground completion's, better development, capacity building of the artisan women empowerment in handicraft sector and in last socioeconomic welfare of artisan and over global development the reviving of handicraft industry in the world that is facing huge problem in comparison of machine-made product in current scenario and to conserve our local talent, our heritage product, our tradition and ancient skill and monument and sustainability to product and eco-friendly living pattern of the people in whole world.

PurposeThe purpose of the study is to investigate the long-run and short-run dynamic relationship between crude oil prices and the movement of Sensex for the period of 2000–2018.Design/methodology/approachThe study uses the augmented Dickey–Fuller test for the presence of unit root, Johansen cointegration test for estimating the cointegration among the variables. Further, in the case of no cointegration found, the study employed the vector autoregression (VAR) model to estimate the long-run relationship and the Granger causality/Wald test for short-run relationship. The study also conducted tests for the prerequisites of the model: serial correlation, heteroskedasticity and normality of data.FindingsThe study found that both the variables, crude oil prices and Sensex are integrated of order 1, that is, I (1), and there is no cointegration between them. Further, the results proliferated from the VAR model unfold the marked effect of previous month crude oil prices (lag 1) on the movement of Indian stock market represented by Sensex considered as the benchmark index. Furthermore, VAR–Granger causality/block exogeneity Wald tests results indicated that there is a causal relationship between the crude oil prices and Sensex under the VAR environment. The model does not have any serial correlation and heteroskedasticity indicating toward the unbiased and robust estimates.Research limitations/implicationsThe study is conducted till the year 2018, and data for the present period (post-2018) is excluded due to ongoing trade issues between the USA and oil-exporting countries such as Iran. The current COVID-19 outbreak has also put serious issues. Due to limited time and availability of standardized data, researchers have considered Sensex as equity index only, but for more generalized research outcome few other equity indexes could have been taken for study.Originality/valueThe study is completely original in nature and is an extensive study of the relationship between the crude oil price and Indian stock market with reference to causality between the variables.

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