Central credit scheme for artisans to be launched in TS

Hyderabad The PM Vishwakarma Kaushal Samman Scheme is expected to revive India’s rich craft traditions and encourage the artisans to enrich the heritage said D Chandrasekhar, Additional Development Commissioner, Ministry of MSME, Govt of India.

He was present at the Inauguration of the three-day Industrial and Engineering Expo (Indexpo), as the chief guest. The expo is currently underway till September 10, 2023. The seventh edition, organised by Indore Infoline, is supported by the MSME Ministry, Government of India, NSIC Cherlapally Industries Association and other trade associations.

The official further said that the PM Vishwakarma scheme aims to provide credit to artisans and craftspeople. It is set to be launched by Prime Minister Narendra Modi on the occasion of Vishwakarma Jayanti on September 17. The scheme will be launched in Hyderabad and Warangal in Telangana, he informed.

Under the scheme, loans of up to Rs 1 lakh will be extended to artisans at an interest rate of five per cent. This interest rate is significantly lower than prevailing market rates, enabling artisans to access credit without the burden of exorbitant interest charges, he added. Nearly three lakh artisans are said to be benefitted across India.

Highlighting MSME department’s support, Chandrasekhar said that they have financed 57 exhibitors out of 100 at the IndExpo. “We plan to support 17 exhibitions every year,” he further said.

100 Exhibitors are showcasing over 20,000 products informed Rajkumar Agrawal, Managing Director, Indore Infoline Pvt Ltd. The expo brings together leading players, manufacturers, suppliers’ experts, and innovators from the industrial manufacturing and service sector under one roof.