The diversification of handicraft products and improving their quality are two crucial aspects to consider for making the industry a sustainable one, according to various businesspeople.

"You have to improve the product quality while product diversification should be emphasised as well," said Mostofa Azad Chowdhury Babu, senior vice president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

Besides, promotional programmes such as fairs should not only be aimed at selling products, but also bringing in more orders, he added.

These comments came during a meeting of the FBCCI Standing Committee on Handicrafts, Handloom, Cottage Industries, Ethnic and Tribal Products at the apex trade body's office in Dhaka on Tuesday.

Amin Helaly, vice president of the FBCCI, urged entrepreneurs to submit specific proposals regarding the challenges faced by handicraft, handloom and cottage industries so that they can be presented to policymakers for a solution.

The cost of producing handicraft and handloom items has increased due to higher raw material prices, including that of yarn.

In addition, product sales in such industries have decreased due to the Covid-19 and ongoing inflation.

In such a situation, cottage and small enterprises have lost the ability to sustain their businesses and so, are calling for the continuation of government policies and financial support to overcome these crises.

Ali Hossain Shishir, director-in-charge of the committee, said SME entrepreneurs can overcome the current crisis if they get policy and financial support.

Speakers then urged the Export Promotion Bureau (EPB) to be more active in organising fairs at home and abroad.

They also called for the introduction of online payment gateways in the country to facilitate the process of getting the right price of products from abroad.