KVIB Provides Subsidy worth Rs 348-crore to J&K's Young Entrepreneurs

The Jammu and Kashmir Khadi and Village Industries Board (J&K KVIB) has released Rs. 348.48 crore in margin money (subsidy) to entrepreneurs who have filed for loans from the board since 2019.

These data were revealed at a news conference held today at the Press Club in Jammu by Vice Chairperson KVIB, Dr. Hina Shafi Bhat.

The board has distributed this amount to 15,459 unit holders under the JK Rural Employment Generation Program (JKREGP) and Prime Minister's Employment Generation Program (PMEGP), directly benefiting 118,188 people in the UT over the last three years, according to the VC.

Dr. Bhat stated that KVIB has no limit on the amount of assistance it can provide to local youth and that it can assist any number of young people who want to start businesses in UT.

She said that the board had provided job opportunities for lakhs of educated unemployed, impoverished, downtrodden, and marginalized people.

She further stated that KVIB is guaranteeing its reach to all segments of society under the mission 'Sabka Saath Sabka Vikas.' According to her, the board has aided 5338 women entrepreneurs through its different programmes, including granting a subsidy of Rs. 1.58 crore to 49 ex-servicemen and war widows.

She also mentioned that the J&K KVIB is building eight clusters in the handloom, handicrafts, and beekeeping sectors under the Union Ministry of MSME's Scheme of Fund for Regeneration of Traditional Industries (SFURTI).

The board has held 23 awareness camps, 10 workshops, 10 vendor development programmes, and 06 exhibitions as part of the National Scheduled Caste Scheduled Tribe Hub (NSSH) scheme, in addition to providing training to 922 SC and ST candidates through the Skill Development and Entrepreneurship Development Program (EDP).