Summary:

On Wednesday, the Gujarat government unveiled its Cottage and Rural Industries Policy, which aims to provide craftsmen and entrepreneurs with increased loans, subsidies, and improved market access. Minister Balwantsinh Rajput stated that the strategy, effective for five years, seeks to create 12 lakh jobs by building a self-sustaining sector. Loan amounts have increased from US$ 9,480.47 (Rs. 8 lakh) to US$ 29,626.47 (Rs. 25 lakh), along with additional subsidies.

The program includes provisions to boost the handloom and handicraft sectors, such as raising loan ceilings for artisans under the 'Dattopant Thengadi Artisan Interest Subsidy Scheme' from US$ 1,185.06 (Rs. 1 lakh) to US$ 3,555.18 (Rs. 3 lakh). Approximately 60,000 microentrepreneurs will receive skill development training. The state aims to increase handicraft and handloom sales from US$ 54.5 million (Rs. 460 crore) to US$ 177.8 million (Rs. 1,500 crore) in five years.

Source: IBEF

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