Madhubani painting of the Mithilanchal region of Bihar has traditionally been the domain of women from the Brahmin, Kayastha and Dalit communities. The paintings mostly depict men and their association with nature, and the scenes and deities from the ancient epics, particularly by women artists. The present study tries to examine the economic implications of this folk art in the Mithila region. After commercialization, Mithila art has successfully broken several societal barriers, such as more freedom for women in society, and financial independence for womenfolk as they started to play a pivotal role in the economic stability of the family through their art. It also led to the transformation of women-dominated space into shared space (as male folks also actively started to participate in the art form), which led to the fulfilment of SDG-5 (gender equality), SDG-8 (decent work and economic growth) and SDG-9 (industry, innovation and infrastructure) in society. It further helps in achieving the goals of SDG-1 (no poverty), SDG-2 (zero hunger) and SDG-10 (reduced inequality) in the Mithila region. The study also explores globalization’s impact on the societal stratification of this art, its gendered nature and its social, economic and cultural impacts on society in general, and women in particular, in the study area. Traditionally, painting was one of the skills passed down from generation to generation in the families of the Mithila region, primarily by women. However, globalization has not only affected the economic sphere of society but also affected the social values, and as such, nowadays there is no caste barrier among the artists of Madhubani Art. The paper would thus explore the socio-economic and spatial characteristics of Madhubani painting as well as the impact of globalization on this age-old tradition of Bihar.