Home / Knowledge / News / Textiles / Anand Sharma says weaver low rate loans a game changer
Anand Sharma says weaver low rate loans a game changer
02
Mar '13
The Union Minister for Commerce, Industry & Textiles Shri Anand Sharma has welcomed the announcements made by the Finance Minister on textiles sector in his Budget Speech. Shri Sharma, while delivering the keynote address during the one-day conference on National Consultation on Handloom sector, here said that the announcement for providing fresh working capital and term loans to our weavers at a substantially low rate of only 6 per cent from the earlier high rate of 14 per cent without interest subvention or 11 per cent with 3 per cent interest subvention will benefit 1.5 lakh individual weavers and 1800 primary cooperatives.

“This is perhaps for the first time that such a big policy roll out in sync with the demands of this community has been announced by any Government and I am confident that this single policy initiative of the UPA Government will become a game changer for this sector,” said Shri Sharma. `Our aim was to bring this at par with Khadi and we have done this` he added.

The Minister said that the Textiles Ministry is in the process of making a paradigm shift in how it defines the Handloom Sector, without compromising on its core strength of being a hand woven sector. “After intense stakeholder consultations, we, under the Handloom Reservation of Articles for Production Act, 1985, propose to include hybrid looms where one of the three primary motions of shedding, picking and beating can be mechanical,” said Shri Sharma.

He expressed the hope that this will greatly facilitate the weavers as this will not only be in sync with ground realities but also substantially reduce the drudgery associated with weaving. He clarified that this would be done without a conflict of interest with the hand woven technique, which is the exclusive domain of this sector and also its core strength.

Shri Sharma also proposed a new Comprehensive Integrated Handloom Cluster Scheme for 5000 plus handlooms to complete the missing link in terms of providing infrastructure support to the handloom sector. He also proposed that the facility of making available at subsidised rates cotton and silk yarn under the 10% price subsidy scheme for which a provision of Rs 1300 crores has been made in the Financial Package through the agency of the National Handloom Development Corporation (NHDC), will now be extended to other fibres like jute, wool and coir.

“This will greatly benefit the large but scattered concentration of looms and weavers in the North East Region as there is also a 2.5 per cent transport subsidy available under this Package,” said Shri Sharma.

Shri Sharma further highlighted that in order to extend the outreach of the Handloom Package to cover more cooperative societies, “the Ministry has proposed certain amendments as demanded by a large number of States, whose Chief Ministers have written to me to relax the net worth and norms for potentially viable societies,” said Shri Sharma.

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Stefano Gallucci (left), CEO, Santex Rimar Group, and Tamer Hasbay, President, Has Group; Courtesy: Santex Rimar

Textiles | On 24th Jan 2017

Santex Rimar to market all Has products globally

Italy based Santex Rimar Group has signed an agreement with Turkey...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search