05-03-2021 | 12:41 PM
Scheme of Fund for Regeneration of Traditional Industries (SFURTI)
Context
The Ministry of Micro, Small & Medium Enterprises (MSME) inaugurated 50 artisan-based SFURTI clusters, spread over 18 States, to provide a boost to the MSME sector. The Ministry of MSME is implementing a Scheme of Fund for Regeneration of Traditional Industries (SFURTI) with a view to organize traditional industries and artisans into clusters to make them competitive and increase their income.
About SFURTI
The Ministry of MSME launched this scheme in the year 2005 with the view to promote Cluster development.
Khadi and Village Industries Commission (KVIC) is the nodal Agency for promotion of Cluster development for Khadi as well as for Village Industries products.
Under the Scheme, financial assistance is provided for development of Khadi, coir and village Industries clusters.
The following schemes are being merged into SFURTI:
The Scheme for Enhancing Productivity and Competitiveness of Khadi Industry and Artisans
The Scheme for Product Development, Design Intervention and Packaging (PRODIP)
The Scheme for Rural Industries Service Center (RISC)
Other small interventions like Ready Warp Units, Ready to Wear Mission, etc.
Objectives of the Scheme are:
To organize the traditional industries and artisans into clusters to make them competitive and provide support for their long-term sustainability.
To provide sustained employment for traditional industry artisans and rural entrepreneurs.
To enhance marketability of products of such clusters.
To equip traditional artisans of the associated clusters with the improved skills.
To make provision for common facilities and improved tools and equipment for artisans.
