Home / Knowledge / News / Textiles / NABARD gives Rs 100mn for revival of AP handloom sector
NABARD gives Rs 100mn for revival of AP handloom sector
Apr '12
Andhra Pradesh Cooperative Bank (APCOB) has received a sum of Rs. 100 million from the National Bank for Agriculture and Rural Development (NABARD) for revitalizing the state handloom industry.

The sum would be utilized for recapitalization of the Andhra Pradesh State Handloom Weavers Cooperative Society (APCO).

The move is in pursuance of an agreement inked by NABARD with the Andhra Pradesh Government and the Union Government for revival of the troubled handloom industry in the state.

Next to agriculture, handloom sector is the second largest employer in the state, employing over 300,000 weavers, and is currently facing financial crisis.

According to NABARD, Andhra Pradesh is the first Indian state to have inked an agreement under the Union Government's Weaver Package.

The assistance extended to the handloom sector by the Centre is in addition to the package announced by the state government for weavers some time back.

As informed by NABARD Executive Director Mr. SK Mitra, the package includes provisions for margin money and interest subsidy for weavers and also provides credit guarantee for banks. According to Mr. Mitra the package is in interest of all stakeholders.

NABARD has been appointed as the Project Implementing Agency by the Centre for execution of the package.

The package's overall outlay is Rs. 38.84 billion, from which the state is expected to get Rs. 3 billion, Mr. P Mohanaiah, Chief General Manager (NABARD - AP) said.

According to Mr. Mohanaiah, high cost of hank yarn and other raw materials, marketing impasse and fragile co-operative structure have weakened the state handloom industry over a period of time.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

(left to right) Rohit Munjal, Ashok  Shah, Rahul Mehta, Premal Udani, Rajesh Masand and Jayesh  Shah

Textiles | On 28th Jun 2017

CMAI to host 822 exhibitors at 65th National Garment Fair

The Clothing Manufacturers Association of India (CMAI) will host over ...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Kerem Durdag
Biovation II LLC

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Yash P. Kotak
Bombay Hemp Company

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

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
July 2017

July 2017

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


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search