Reviving Tradition: Gujarat's Bold New Cottage Industry Policy

The Gujarat government has launched a new cottage and rural industries policy, significantly increasing loans and subsidies to artisans and entrepreneurs. Aiming to create 12 lakh jobs over five years, the policy seeks to enhance local production, market facilities, and international reach, doubling artisan sales by 2029.

On Wednesday, the Gujarat government announced an ambitious new policy for cottage and rural industries, significantly boosting financial assistance to artisans and entrepreneurs looking to establish units within the state.

Cottage Industries Minister Balwantsinh Rajput unveiled the policy in Gandhinagar, marking the end of the state's previous five-year scheme. The new plan is expected to facilitate the creation of 12 lakh jobs over a five-year period, aiming to foster a sustainable cottage industry sector while providing artisans with greater access to both local and international markets.

The New Cottage Policy 2024 increases the maximum loan amount from Rs 8 lakh to Rs 25 lakh, and the subsidy from Rs 1.25 lakh to Rs 3.75 lakh, offering substantial backing for development. Additionally, the 'Dattopant Thengadi Artisan Interest Subsidy Scheme' triples the loan limit for handloom and handicraft artisans. The state will train about 60,000 microentrepreneurs and register 5,000 artisans on top e-commerce platforms to expand market access.

(With inputs from agencies.)