Revival package to boost India’s handloom sector

The Government sponsored “Revival, Reform & Restructuring of the Handloom Sector” scheme is set to boost the ailing handloom secor in India.
“The basic purpose of the package is revival of the handloom sector in the country and declogging the chocked lines of bank credit to viable/potentially viable weaver’s cooperative societies (WCS) and to the individual weavers,” Mr. P Mohanaiah, Chief General Manager, NABARD, Andhra Pradesh Regional Office, Hyderabad, told fibre2fashion.
Explaining further, he says, “The recapitalization assistance will facilitate increasing the borrowing power of the Primary WCS (PWCS) and enable them to enlarge their client base.”
The scheme envisages that the lending institutions would provide liberal assistance under Interest Subvention Scheme to the weavers, who wish to take fresh loan and start weaving related activities.
“In the long run, this will benefit WCS as well as individual weavers, as their credit needs would be met by the lending institution to a large extent,” avers Mr. Mohanaiah.

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Manipur banks on development of handloom & handicrafts

It is imperative to develop handloom and handicraft industries in Manipur as the state lacks fully developed industries, said Govindas Konthoujam, Minister of Commerce and Industries, Government of Manipur.

Speaking at the State Handicrafts Awards ceremony organized by the Commerce and Industries Department at the Directorate of Commerce and Industries, Porompat, the Minister said that handloom and handicrafts are the major contributors to the state’s Gross Domestic Product (GDP).

He cautioned that if the domestic handloom and handicraft industry is not developed and if it fails to keep pace with the changing trend, the indigenous art, rather the whole handloom and handicraft industry would not survive.

The Minister advised that the people of the state should try to make the most of India’s Look East Policy and introduction of railways in the state.

Further, stressing on the need to create more demand for handloom and handicraft items of the state, Mr. Konthoujam said that while bestowing the products with a cultural and traditional touch, scientific technologies should be brought to work, and a marketing platform should also be developed for these products.

For more details please visit : Manipur banks on development of handloom & handicrafts @ fibre2fashion

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