The traditional coir industry in the State will benefit immensely from the revised Rejuvenation, Modernisation and Technology Upgradation (REMOT) scheme, Union Minister for Micro, Small and Medium Enterprises Kalraj Mishra had said.
REMOT, the scheme introduced during the eleventh Plan, had been modified to give more financial assistance to entrepreneurs who want to start coir units.
Scheme open“The scheme is now open for the setting up of any type of coir unit with a project cost ceiling of Rs.10 lakh,” Mr. Mishra said here after inaugurating a conference on ‘MSME Funding — Opportunities, Challenges and New Initiatives in Coir Sector.’
“This is the only credit linked subsidy scheme available in the coir sector with 55 per cent bank loan, 40 per cent subsidy from the Union government and 5 per cent beneficiary contribution.”
The country earned foreign exchange to the tune of Rs.1500 crore by way of export of coir and coir products. The foreign exchange earning, he said, was significant considering the fact that coconut husk, the raw material for coir industry, was treated as waste material. “We are not utilising 40 per cent of the coconut husks available in the country. The Centre has fixed a target of 60 per cent of utilisation of coconut husk for coir industry,” he said.
