"We are working with a vision to increase the wages of skilled handloom weavers to the level of Rs 500 per day.
"Our major interventions will be to cover five lakh weavers in MUDRA Scheme in the next three years and also to take up 300 more block level clusters for development. We are also aiming to enhance handloom exports from about Rs 2,500 crore to Rs 4,500 crore in the next three years," Textiles Minister Santosh Kumar Gangwar said.
The minister conveyed to the board members that the government is implementing a newly chalked out strategy for revival and resurgence of the handloom industry.
Gangwar said: "The new strategy for revival of the industry has the core objective of increasing the earnings of handloom weavers through skill upgradation, loom upgradation, availability of good quality raw material at cheaper rates, availability of adequate credit facilities, product design and development and branding for effective marketing."
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The new strategy is also demand-driven, so that production can be made according to consumer preferences.
He said the Budget utilisation for the sector in 2015-16 was Rs 591 crore, which is 25 per cent higher than the previous year.
Speaking on the initiatives taken to improve managerial skills in the sector, Gangwar highlighted the introduction of four-year course in handloom technology, at Indian Institute of Handloom Technology (IIHT), Salem and launching of handloom entrepreneur course at IIHTs at Bargarh, Varanasi and Salem.
He also said the government has come out with a new model of credit for handloom sector and this has been done by combining elements of concessional credit such as margin money, interest subvention and credit guarantee cover with the innovative features of MUDRA scheme.
Further life and health insurance benefits to handloom weavers will also be now provided through national social security schemes.