Home / Knowledge / News / Textiles / Goa govt to sanction 95% subsidy for SGHs ventures
Goa govt to sanction 95% subsidy for SGHs ventures
10
Jan '11
Goa's Self Help Groups (SHGs) have a reason to rejoice as the state government has agreed to provide 95 percent subsidy to help these SHGs to establish their own ventures. Thus, these SGHs intending to set up their own ventures would be required to bring in only five percent of the total capital required for the venture.

All the SGHs in the state of Goa including even the minor ones could gain from this government initiative once the state Chief Minister officially introduces this initiative on January 26.

The state government would be advancing a subsidy to the extent of Rs 50,000 as seed capital and will also provide necessary assistance to the new entrepreneurs to help them obtain loans from bank to kick off initially.

The total amount that the government would extend by way of loan along with the seed capital would come to around 95 percent of the total capital required by the SGHs for the venture, thus the SGHs will have to bring in only five percent of the total investment capital.

The Industries Department is likely to provide finance for the scheme, whereas the Handicraft Department has been made responsible for implementation of the scheme.

Benefits under the scheme would be available to all the conventional business ventures including the handicrafts, perfume making and homemade embroidery.

The state CM announced the scheme in the last budget and has allocated four million rupees for implementation of the same. Prior to this the state government has never provided any direct finance for funding any of the schemes to benefit the SHGs in the state.

It is believed that with this scheme the Goa Handicraft Rural Small Scale Industries Development Corporation would more aptly be able to aid those artisans who have been facing troubles in securing finance to set up their own business.

Fibre2fashion News Desk - India


Must ReadView All

Serbian economy minister Goran Knezevic (left) and Taypa president Mesut Toprak after signing the MoU. Courtesy: Serbian Government/SeeNews

Textiles | On 20th Oct 2017

Turkish group Taypa to build textile factory in Serbia

Turkish textile group Taypa will invest euro 35 million ($41.2...

China’s textile & apparel exports rise 4.3% in Sept ’17

Textiles | On 20th Oct 2017

China’s textile & apparel exports rise 4.3% in Sept ’17

Registering an increase of 4.3 per cent year-on-year, the exports of...

Courtesy: Messe Frankfurt

Textiles | On 20th Oct 2017

Heimtextil to focus on textile solutions for architects

Heimtextil 2018, world's leading trade fair for home and contract...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

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....

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Rupa Sood and Sharan Apparao
Nayaab

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.9%
No
13.2%
Skip
8.8%

Total Votes: 68

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
27.9%
Skip
10.3%

Total Votes: 68

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.3%
No
10.3%
Skip
4.4%

Total Votes: 68

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.0%
No
11.8%
Skip
13.2%

Total Votes: 68


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