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SCHEME OF FUND FOR REGENERATION OF TRADITIONAL INDUSTRIES (SFURTI)

Union Minister for MSME & Road Transport & Highways inaugurated 50 artisan-based SFURTI clusters, spread over 18 States.

Important points:

In the 50 clusters inaugurated, over 42,000 artisans have been supported in the traditional segments of muslin, khadi, coir, handicraft, handlooms, wood craft, leather, pottery, carpet weaving, bamboo, agro processing, tea, etc.
The Ministry of MSME, Govt. of India has funded an amount of around Rs.85 crore for the development of these 50 clusters.
The Ministry of MSME is implementing a Scheme of Fund for Regeneration of Traditional Industries (SFURTI) with a view to organize traditional industries and artisans into clusters to make them competitive and increase their income.

SFURTI:

This scheme has been under implementation since 2005-06 for making traditional industries more productive, market-driven and competitive by organizing the traditional industries and artisans into clusters.
The scheme envisages providing need-based assistance for replacement of production equipment, setting up of Common Facility Centres (CFC), product development, quality improvement, improved marketing, training and capacity building, etc. with the financial assistance extended by the Government.
The scheme was modified as revamped SFURTI scheme during 2016-17.
As on date, there are 371 clusters which have are being funded by the Ministry, supporting 2.18 lakh artisans with a total government assistance of Rs. 888 cr.
SFURTI clusters are of two types:
Regular Cluster (500 artisans) with Government assistance of up to Rs.2.5 crore
Major Cluster (more than 500 artisans) with Government assistance up to Rs.5 crore

SOURCE:THE ECONOMIC TIMES

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