J&K Wool Processing, Handloom, Handicrafts Policy-2020
Applicant : Sole proprietor, partnership, private/public company or any SME
Page 18 SI. Ministry/ Department Scheme Name Component Sub-component Applicant Quantum of Assistance (in Brief) Link for Detail component will be eligible for five years period, even when they are undertaking substantial expansion. (d) In case, if the annual rate of interest charged by a bank falls below 6%, a minimum amount @1% per annum of interest will still have to be paid by the eligible units (Illustration: If in future, bank rate of interest for a unit becomes 5%, the interest subvention will be limited to 4% and the unit will bear the burden of I% interest). (e) The maximum benefit under this component for manufacturing as well as service sector units is Rs.1 crore in 5 years. 4 Department of Industries J&K Wool Processing, Handloom, Handicrafts Policy-2020 Subsidies/ Incentives/ Grants Finance/ benefits Sole proprietor, partnership, private/public company or any SME This policy will be valid for a period of 10 years from the date of issue of Notification. Incentives for Wool Processing Units All incentives under Jammu and Kashmir Industrial Promotion Policy 2020 will be applicable to wool processing units. All other incentives implemented under Ministry of Textiles, Gol, applicable for Wool sector will be extended along with any other incentives being provided by centre or MSME ministry, Gol. Fiscal incentives for Handicraft’s sector l. All incentives under Jammu and Kashmir lndustrial Promotion Policy 2020 will be applicable to craft entrepreneurs who intend to set up their units in organized sector. ll. One-time working capital subsidy to the extent of 10% of the working capital for one year not exceeding Rs. 5.00 lakh shall be given to eligible units utilizing local resources for production and marketing of handicrafts’ products. Export
subsidy to the extent of 10% of the total volume of handicrafts’ products will also be given to such units. III. To promote and develop handicrafts sector, Government will provide 50% marketing support for registration of crafts on e-platforms like Amazon, Flipkart, Myntra etc. lV. G.l certified unitholders shall be offered a minimum support price by J&K Handicrafts(S&E) Corporation for sale of their products. Furthermore, rent-free stalls subject to maximum 500 stalls per year and maximum reimbursement of Rs.10,000.00 per stall and all their travel expenses and freight charges subject to maximum 4000 persons per year with maximum reimbursement upto Rs.10,000 per person for participation in UT and national-level exhibitions shall be borne by the Government. V.Under the Artisan Credit Scheme, Government will increase the existing loan amount from Rs.2 lakh with interest subvention of 10% for a period of 5 years. Vl. Under the Managerial Subsidy, GoJK will increase the financial support from existing Rs. 19104 to Rs. 1 lakh over a period of 3 years in the ratio of 50:25:25 which will provide a level playing field to the registered societies and make them self-reliant. Vll. Under training Programmes stipend scheme, the stipend for advance training shall be increased from Rs. 700 per month to Rs. 1500 per month and for elementary training stipend, the stipend shall be increased from Rs 500 to Rs.1000. Further, the present intake capacity set by the department is 25 which will be reduced to 20 trainees per training centre. ln the long-term, the Government shall restructure training centres and upgrade them to the status of Craft Training & Design Centres that shall train new-age craftsmen and expose them to new designs on the anvil