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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