Daily Current Affairs Schemes- Policies- Initiatives

Scheme of Fund for Regeneration of Traditional Industries

Context: The Ministry of Micro, Small and Medium Enterprises (MSME) is implementing a Central Sector Scheme titled the “Scheme of Fund for Regeneration of Traditional Industries (SFURTI)” along with its organizations (Khadi and Village Industries Commission-KVIC and Coir Board), in collaboration with State Governments, their organizations and non-governmental organizations.

Nodal Agencies (NAs)

  • The following agencies shall be designated as the Nodal Agencies for the Scheme:
  • Khadi and Village Industries Commission – for Khadi and Village Industry clusters
  • Coir Board – Coir based clusters

Objectives of Scheme of Fund for Regeneration of Traditional Industries

  • 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 the marketability of products of such clusters;
  • 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 strengthen the cluster governance systems with the active participation of the stakeholders;
  • To identify and understand cluster’s target customers, understand their needs and aspirations and develop and present product lines to meet the requirement. 
  • To tap the E-Commerce as a major marketing channel given the outreach and the growing market penetration of E-Commerce; etc.

 

 

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