Inside Kashmir

Rs 35.63 cr term loan extended for industries in Ladakh C&I Ministry

Srinagar: Maintaining that the Government of India (GoI) has taken mammoth steps to extend support to industries in Ladakh, the Ministry of Commerce and Industries Wednesday informed that a total of Rs 35.63 crore term loan has been extended through various financial institutions.

The information was revealed when Minister of State (MoS) Ministry of Commerce and Industries Som Prakash replied to queries raised in Lok Sabha about the support for small-scale industries hit by the Covid-19 Pandemic and propose extensively including measures taken by the Ministry to develop entrepreneurial venture in remote mountains in Ladakh.

Prakash in a written reply , said that the UT of Ladakh has extended benefits under the ”Atmanirbhar Bharat” scheme of the Government of India.

“Under the Credit Guarantee Fund Trust for Micro and Small Industries, till date 695 account holders through various financial institutions have been extended-term loan amounting to Rs 3563.00 lakh,” he said.

About the purposes extensively encourage and assist the start-up ecosystem in the region, the Minister said that startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and startups in the country.

“The Expenditure Finance Committee (EFC) of the Government of India has recently appraised two schemes for start-ups namely Credit Guarantee Scheme for Startups (CGSS) and Startup India Seed Fund Scheme”, the Minister said. “Under the Startup India initiative, the incubation centre at Leh has been inaugurated on 31st of October 2020 by the Administration of Ladakh.”

About the measures taken, the Mos in a reply said that Ladakh Entrepreneurship Development Institute is being set up to train youths, small entrepreneurs, artisans and weavers are given opportunities for exposure to participate in various fairs and exhibitions like Delhi Haat and other popular exhibition places.

Prakash said that Ladakh Haat at Leh is being created to provide encouragement to the artists and weavers by allowing free interaction between buyers and sellers to promote local culture, cuisine and crafts.

Prakash that under the central Government scheme namely Prime Minister Formalization of Micro Processing Enterprises (PMFME), ‘Sea buckthorn’ and ‘Apricot’ have been selected under “One District One Product” programme for Leh and Kargil respectively for the benefit of local food processing industries.

“The TRIFED (Tribal Cooperative Marketing Development Federation of India) under the ‘Van Dhan Yojna’ has also helped livelihood in transforming locals into entrepreneurs in Ladakh and under this Yojna, seven Van Dhan Vikas Kendras (300 beneficiaries per Van Dhan Kendra) has been set up,” reads the reply.

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