Investment Promotion Scheme (IPS) For Handicraft Artisans: Assistance For Capital Investment For The Handloom And Handicrafts Artisans Of The U.T. Requiring Financial Assistance For Purchase Of Machinery Or Raw Materials

DETAILS The scheme “Assistance For Capital Investment For The Handloom And Handicrafts Artisans Of The U.T. Requiring Financial Assistance For Purchase Of Machinery Or Raw Materials” is a sub scheme under the “Investment Promotion Scheme (IPS)” for Handicraft Artisans. It was launched on 3rd July, 2015 for a period of five years by the Dept. of Industries, U.T. Administration Of Dadra & Nagar Haveli And Daman & Diu. Now it has been extended further from 20th May, 2022 and shall be operative till 19th May, 2027. Objective of the "Investment Promotion Scheme (IPS)”: The scheme envisages to provide incentives and assistance to the MSME Sector in order to nurture them and protect them from market vagaries thereby making them vibrant and successful. therefore making the U.T. a Special Hub for the MSME sector; maximize Women participation in the business sector, reduce unemployment among the local residents and incentivize the industries to employ resident laborers etc. Objective of the "Assistance For Capital Investment For The Handloom And Handicrafts Artisans Of The U.T. Requiring Financial Assistance For Purchase Of Machinery Or Raw Materials" Sub-scheme: Under this scheme, the Handloom and Handicrafts artisans of the U.T. requiring financial assistance for purchase of machinery or raw materials for development of their business shall be provided Capital subsidy for investment in Machinery and for working capital. BENEFITS Machinery Investment Subsidy: Subsidy Rate: 50% of the investment made in machinery. Maximum Subsidy Amount: Upto ₹2,00,000/-. Working Capital Loan Subsidy: Subsidy Rate: 50% of the loan taken for working capital (e.g., purchase of raw materials). Maximum Subsidy Amount: Upto ₹2,00,000/-. Note: 10% additional subsidy shall be provided to (Scheduled Castes/ Scheduled Tribes/ Women/ Differently abled having 30% or more disability. ELIGIBILITY The applicant should be a Handloom and Handicrafts artisan. The applicant should be a resident of the U.T. of Dadra and Nagar Haveli & Daman and Diu. The applicant should be above 18 years of age. The applicant should be interested in purchasing machinery or raw materials for development of their business. The applicant must have skills of Handloom or Handicraft art and shall demonstrate the products made by him/her to the committee consisting of GM (DIC), Director (Tourism) and CEO (District Panchayat).