Home / Knowledge / News / Textiles / Loan waiver for handloom weavers on cards
Loan waiver for handloom weavers on cards
Feb '09
While launching the newly set up Fashion and Design Promotion Council, the Textile Minister, Mr Shankersinh Vaghela said that the government is likely to announce a Rs 26 billion loan waiver scheme for the handloom weavers of the country.

He further added by saying that, “all the formalities had been completed and the cabinet is expected to take the final decision any time soon”. The proposal is expected to help around 2 million handloom weavers in the country.

Exports from the handloom and handicrafts have plummeted by a staggering 64 percent in December when compared with the same month of 2007, which has hit hard the poor handloom weavers.

Mr Vaghela also informed that his ministry had requested the finance ministry to provide loans to the handloom weavers at 7 percent, the rate at which farmers are provided loans. This would help them face the deluge of imports from neighbouring China, he added.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

Benetton seeks approval for FDI in single-brand retail

Global fashion brand Benetton Group, has sought Indian government's...

Apparel/Garments | On 26th May 2017

Walmart to conduct GST workshops for SME suppliers

With the objective of supporting its small and medium-sized (SME)...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Abhishek Samdaria

GST will certainly reduce a lot of paperwork in future

Lynda Kelly
Suominen Corporation

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Yash P. Kotak
Bombay Hemp Company

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

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:
May 2017

May 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