The Prime Minister, Dr. Manmohan Singh has asked the Finance Minister to consider the feasibility of extending the low interest facility provided for agricultural loans to handloom weavers as well.
Launching the “Handloom Mark” at a function here today, Dr. Singh said that he had asked the Textile and Finance Ministers to look at the problem of debt which is afflicting handloom cooperatives so that this can be rescheduled or cooperatives recapitalised in a manner similar to that done for cooperative banks through the Vadyanathan Committee. “I am hopeful that we will resolve this problem in the next three months”, he added. Acknowledging high cost of credit and debt overhang as serious constraints, Dr. Singh underscored the need to address them on “a priority basis”.
Reiterating the Government's commitment to redress the problems of weavers, the Prime Minister announced that 230 new Yarn Depots will be opened to provide easy access to yarn for all clusters with more than a thousand looms. He also announced that Government will cover another 100 clusters during this year under the Integrated Handloom Cluster Development Scheme.
Dr. Singh expressed hope that this new Handloom Mark will help consumers distinguish between genuine hand woven fabric and power loom and machine-made fabric and that it will help individual weavers, weavers cooperative societies, master weavers, retailers and exporters. The Prime Minister honoured National Master Weaver Award winners. The Union Minister for Textiles, Shri Shankarsinh Vaghela and MoS for Textiles, Shri Elangovan and other dignitaries participated in the function.
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