Conference on MSME Funding in Coir Sector Shri Kalraj Mishra, the Union Minister for MSME inaugurated a conference on MSME Funding- Opportunities, Challenges and New Initiatives in Coir Sector on 20th December in Thiruvananthapuram, Kerela. Shri Mishra stated that the traditional Coir Industry will benefit immensely from the revised Rejuvenation, Modernisation and Technology Upgradation (REMOT) scheme. He explained how the REMOT scheme had been modified to give more financial assistance to entrepreneurs who want to start coir units. The Honble Minister further enumerated that the scheme is now open for setting up any type of coir unit with a project cost ceiling of Rs. 10 lakh. REMOT scheme is the only credit linked subsidy scheme available in the coir sector with 55 per cent bank loan, 40 per cent subsidy from the Union Government and 5 per cent beneficiary contribution. The country has been earning valuable foreign exchange by way of export of coir and coir products. This foreign exchange earning is significant considering the fact that coconut husk, the raw material for coir industry, is treated as waste material. Further, The Coir Industry provides sustainable employment to rural women entrepreneurs and is also an environment friendly industry. Ministry of MSME has been running various programmes/schemes to promote and support the Coir Industry.
Posted on: Mon, 22 Dec 2014 13:12:21 +0000