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Scheme of Fund for Regeneration of Traditional Industries

Birender Singh

Birender Singh

India has a rich heritage of traditional industries. This sector not only plays a crucial role in providing large-scale employment opportunities at comparatively lower capital cost, but also helps in industrialization of rural & backward areas, thereby reducing regional imbalances, assuring more equitable distribution of income and wealth. The eco-friendly products of traditional industries have great potential for growth in production and export developing niche products for domestic and export markets. With a view to making the traditional industries more productive and competitive and facilitating their sustainable development, the Govt. of India announced setting up of a fund for regeneration of traditional industries, with an initial allocation of Rs 100 crore. Pursuant to this announcement, a Central Sector Scheme titled the “Scheme of Fund for Regeneration of Traditional Industries (SFURTI)” was approved at a total cost of Rs 97.25 crore. The Scheme was implemented by the Ministry of Micro, Small and Medium Enterprises (MSME) and its organizations (Khadi and Village Industries Commission-KVIC and Coir Board), in collaboration with State Governments, their organizations and non-governmental organizations.

SCHEME OBJECTIVES

The objectives of the Scheme are as follows:
  • To organize the traditional industries and artisans into clusters to make them competitive and provide support for their long term sustainability and economy of scale.
  • To provide sustained employment for traditional industry artisans and rural entrepreneurs.
  • To enhance marketability of products of such clusters by providing support for new products, design intervention and improved packaging and also the improvement of marketing infrastructure.
  • To equip traditional artisans of the associated clusters with the improved skills and capabilities through training and exposure visits.
  • To make provision for common facilities and improved tools and equipment for artisans to promote optimum utilization of infrastructure facilities.

To know more about the scheme click on the link https://msme.gov.in/scheme-fund-regeneration-traditional-industries