The Union Ministry of Textiles would be organising an outreach programme for textiles sector MSMEs on February 13, 2019 in New Delhi to hold interactions with the stakeholders to help them avail the support and outreach for 100 days programme announced by the Prime Minister.
Minister of Social Justice & Empowerment Thawar Chand Gehlot will be the Chief Guest of the event and Minister of Textiles, Smriti Zubin Irani will preside over the function. An exhibition showcasing achievements of the textiles sector MSMEs will also be held on the occasion.
• Prime Minister Narendra Modi had launched the support and outreach 100 days programme for MSMEs on November 2, 2018 identifying one hundred districts in various sectors across the country.
• Among these, thirty-nine districts were identified for textiles sector, 12 for handloom, 19 for handicraft and 8 for power loom.
• Under the support and outreach 100 days programme, various activities have been undertaken in identified districts for creating synergy for MSMEs in textile sector like holding camps for Mudra Loan in collaboration with local bank, enrolment of beneficiaries on e-dhaga, distribution of toolkits to beneficiaries and registration and distribution of Pehchancard to artisans and weavers.
• With a view to consolidate progress under the programme, district level events were organised in each identified district on February 9 and 10.
• Further, an exhibition showcasing handloom, handicraft and powerloom products was also organised in the state bhavans of the identified districts in Delhi on February 11 and 12.
Over 75 per cent of the garment industry in India is in the MSME sector and the twelve initiatives covered in the package would benefit most units in the industry.
The two per cent interest subvention for new loans, two per cent additional subvention for export credits and clearance of loans upto Rs 1crore within 59 minutes would help the India's garment industry to address working capital problems.
Credit based on upcoming receivables under e-discounting system is another welcome step in this direction.
Benefits to Ministry of Textiles include skilling of youth in textile sector, thus, providing requisite skilled manpower to the textile industry.
These incentives would provide support in manufacturing of quality tools to improve productivity of MSMEs and enable them to become competitive in national and international markets.
It will also provide trained manpower and consultancy in related areas. Since Textiles industry is rapidly moving forward towards modernisation, expansion and integration, these initiatives will be immensely beneficial to the textile sector.
The MSME focused outreach programme will give boost to the MMF textile manufacturing units in textile hubs like Gujrat, Maharashtra, Tamil Nadu and Uttar Pradesh.
The initiatives are gifts to MSMEs and they will not only be enhanced MSMEs spirit and confidence level including competitiveness but they would also be able to focus on increasing their business activity.
The initiatives taken under the MSME outreach programme will provide a much-needed fillip and encouragement to the MSME sector which contributes significantly to the textiles exports.