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Government will hand-hold handloom sector – Minister
Mar '10
Ms Panabaaka Lakshmi, Minister of State for Textiles, while presenting a written reply before the Lok Sabha, divulged that the proposals laid down by a high level committee which was formed to study the issues concerning high cost of working capital and choking of credit lines in the handloom sector, are being considered by the government.

The committee constituted by the Textile Ministry was lead by Managing Director of the National Bank for Agriculture and Rural Development (NABARD), which in order to resolve the issues has planned out a Financial Package inter-alia suggesting waiver of arrears of interests and loans of Handloom Weavers' Cooperative Societies.

The Minister also revealed that during the Eleventh Five Year Plan, the government is to implement five schemes namely, Integrated Handloom Development Scheme, Marketing and Export Promotion Scheme, Handloom Weavers Comprehensive Welfare Scheme, Mill Gate Price Scheme and Diversified Handloom Development Scheme, which are meant for the welfare and development of the handloom weavers.

Under the Technology Upgradation Fund Scheme (TUFS), subsidy claims summing up to Rs. 5.55 billions, have been received by the government from textile units for up-gradation and installation of high-tech machinery, Lakshmi said while responding to another query.

She also divulged that steps like developing a Public-Private Partnership (PPP) approach are not being considered by the government, with the aim to create Indian apparel brands which are recognized world-wide.

Also, steps are also not being considered by the government for creation of Special Purpose Vehicle (SPV), for brand creation and promotion and added that, the government is committed towards deepening the penetration of India's textiles and clothing products in international markets, while also promoting the image 'Brand India' in the markets world over.

Fibre2fashion News Desk - India

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