Home / Knowledge / News / Textiles / India approves Rs 23.5bn package for handloom weavers
India approves Rs 23.5bn package for handloom weavers
20
Dec '11
The Government of India has approved a Rs. 23.5 billion package for the benefit of handloom weavers in the country, Textiles Minister Anand Sharma said in Lok Sabha, the Lower House of Parliament.

The comprehensive package will enable the crisis ridden handloom sector in the country to meet its important needs of cheap hank yarn and credit at low interest rates.

The Minister said the package has been made by modifying the two existing schemes - Integrated Handlooms Development Scheme for availability of cheap credit and Mills Gate Price for availability of subsidized hank yarn.

The Rs. 23.5 billion package includes providing 3 percent interest subvention to weavers for three years.

The subsidized credit to the weavers will be made available through SIDBI, NABARD and the nationalized banks, while the National Handloom Development Corporation (NHDC) would provide subsidized yarn.

The present package is in addition to the Rs. 3.88 billion loan waiver announced earlier, under which 300,000 individual weavers and 15,000 cooperative societies are expected to benefit.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: European Commission/European Union

Textiles | On 26th May 2018

EU set to negotiate FTAs with Australia & New Zealand

The European Union is all set to begin negotiations for free trade...

US bans import of cotton goods from Turkmenistan

Textiles | On 26th May 2018

US bans import of cotton goods from Turkmenistan

The US Customs and Border Protection (CBP) has issued a Withhold...

FPCCI prepares report on Pakistan's export issues

Textiles | On 26th May 2018

FPCCI prepares report on Pakistan's export issues

Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Urmil Arya

Sushila International, a well established textile organisation established ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search