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Karnataka Govt declares support schemes for weaving industry
17
Nov '08
Chief Minister B S Yeddyurappa of Karnataka applauded the efforts of weavers and praised their contribution to the State economy at the inauguration of district-level weavers' convention at the BEC Grounds, Bagalkot.

He stressed that Government was planning many support schemes to promote this lucrative sector. Over 65,000 artisans with 21,000 handlooms and 13,000 power looms depend on weaving in the district.

Being pleased with the performance of the industry, the CM declared that Government would invest Rs5 billion in the weaving zone within next five years.

This step will be a part of Suvarna Nekarike Yojane initiative undertaken to strengthen the textile industry.

Power would also be supplied at concessional rates and 25 percent subsidy on the amount invested would be given to handloom, power loom and ready-made-garments units under the new textiles policy.

Government was mulling over setting up Devara Dasimayya Development Authority. Two power loom complexes at an estimated cost of Rs18.6 million and Rs7.5 million are expected to be set up in Bilgi taluk and Rabakavi- Banahatti respectively under the Industrial Development Project.

A sum of Rs52.6 million would be used to construct 1,500 houses under the Ashraya Scheme in the district and loan would be advanced to 13,100 power looms through cooperative societies at three percent interest rate.

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