Ministry of Textiles is organizing an outreach programme for Textiles Sector MSMEs on 13th February, 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, Dr. Thawar Chand Gehlot will be the Chief Guest. Minister of Textiles, Smriti Zubin Irani will preside over the function. Minister of State for Textiles, Ajay Tamta will also be present. An exhibition showcasing achievements of the textiles sector MSMEswill also be held during thisoccasion. Prime Minister, Narendra Modi, had launched the support and outreach 100 days programme for MSMEs on 2nd November, 2018 identifying one hundred districts in various sectors across the country. Amongst these, thirty-nine districts were identified for textiles sector - 12 for handloom, 19 for handicraft and 8 for power loom.
Over 75 % 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 modernization, expansion and integration, these initiatives will be immensely beneficial to the textile sector.
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. The sanctioning of loan in less than an hour, will save a lot of time of MSM entrepreneurs. The announcement of the stoppage of visit by inspector, the decision of his visit through a computerized random allotment, uploading of reports on portal within 48 hours, would enable MSMEs to do hassle free business. Government has also launched a special drive for opening of bank accounts and promotion of digital payments in the textiles sector by organizing special camps along with micro-ATM facilities at weaving clusters. Joint Secretary Level IAS Officers have been designated as Prabhari in each district to work with nodal officers appointed by respective sectoral heads.