Andhra handloom sector to get loan waiver

YarnsandFibers News Bureau 2015-02-03 14:00:00 – Mangalagiri

The globalisation and liberalisation has impacted the handloom sector badly and those who depend on it for livelihood need to be protected. Andhra Pradesh Chief Minister N Chandra Babu Naidu attending a handloom workers convention yesterday announced that loans of all the handloom units in the state would be waived, this came in on the lines of waiver for farm loans.

He also announced that the state government would purchase the unsold stocks of handloom workers and handloom co-operative societies.

The government would release Rs 10 crore for APCO (apex body of weavers societies) to purchase the stocks from weavers and societies and sell these stocks in the market at a concession.

Naidu also announced 20 percent subsidy on the purchase of yarn for handloom sector. The Handloom is the largest cottage industry with a position next only to Agriculture in providing employment to rural artisans.

Andhra Pradesh is one of the leading States in the Country having large traditional base of Handloom Industry and produces most exotic items of Handloom fabric with traditional designs and techniques passed down from generation to generation.

Government is taking various steps for the promotion of the socio-economic well being of the Handloom weavers, by implementing various welfare and developmental schemes.

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