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

US & EU retailers release industry approach to GDPR

Apparel/Garments | On 24th May 2018

US & EU retailers release industry approach to GDPR

The Washington, D.C.-based National Retail Federation and...

Global cotton consumption to reach record in 2018-19: USDA

Textiles | On 24th May 2018

Global cotton consumption to reach record in 2018-19: USDA

Reflecting continued growth in the global economy, world cotton mill...

Courtesy: Nanollose

Textiles | On 24th May 2018

Nanollose develops fabric from coconuts

Australian technology company Nanollose has developed a sustainable...

Interviews View All

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

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

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...

Yash P. Kotak
Bombay Hemp Company

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search