This research paper explores the relationship between traditionality and modernity in the context of the Assamese handloom industry, and how social enterprise can intervene to make handicrafts more relevant to changing times. The study takes a closer look at how social enterprises can promote craft preservation while simultaneously ensuring economic independence for artisan communities through in-depth interviews with local artisans and community mobilizers, the paper highlights the grassroots-level impact of intervention in terms of raw materials, design, and sales, and how it influences artisan communities directly or indirectly. The evolution of Assamese motifs is traced in order to understand the impact of contemporization on the design process. Finally, the paper discusses the role of contemporization in the handicraft sector and its identity, and how social enterprise can help strike a balance between tradition and modernity, ensuring the sustainability of the industry for future generations.