Prime Minister Narendra Modi on Sunday said that his government was committed to the uplift of artisans and craftspeople, and that the ₹13,000 crore Pradhan Mantri Vishwakarma Yojana (PMVY), launched for them on Sunday, would equip craftspeople with the technology to augment their skills for the modern market.
Mr. Modi also inaugurated the first phase of the ₹5,400 crore state-of-the-art India International Convention and Expo Centre, named ‘Yashobhoomi’, at Dwarka in New Delhi.
“Today, I dedicate ‘Yashobhoomi’ to every labourer, every ‘Vishwakarma’ of the nation,” Mr. Modi said. “We are living at a time when there is such a government in the country that provides recognition and help to marginalised people,” he added.
Mr. Modi also unveiled 18 customised stamp sheets showcasing the 18 traditional trades covered by the scheme, along with a toolkit e-booklet on the occasion.
The Vishwakarma scheme aims to enhance the accessibility and quality of products and services offered by traditional artisans and craftsmen. The scheme offers collateral-free enterprise development loans of ₹1 lakh (first tranche to be repaid in 18 months) and ₹2 lakh (second tranche to be repaid in 30 months). A concessional rate of interest of 5% will be charged from the beneficiary, with interest subvention cap of 8% to be paid by the Ministry of Micro Small and Medium Enterprises. The credit guarantee fees will be borne by the Central government.
Stressing on the government’s vision of ‘Vocal for local’, the PM also asked people to purchase local products for the forthcoming festivals, including Ganesh Chaturthi, Dhanteras, and Diwali.
Speaking of Yashobhoomi, Mr. Modi said that the conference tourism sector, estimated at ₹25 lakh crore, presented a huge opportunity for India. With a total project area of over 8.9 lakh square metres, and built up area of more than 1.8 lakh square metres, Yashobhoomi will find its place among the world’s largest MICE (meetings, incentives, conferences, and exhibitions) facilities, he said.
He said Yashobhoomi has the complete ecosystem for organising conferences and exhibitions, and will provide job opportunities to several lakh people.“Through the Yashobhoomi convention centre alone, lakhs of youth are expected to secure employment opportunities,” the PM said.
Yashobhoomi will also be connected to the Delhi Airport Metro Express line, with the inauguration of a new metro station, the ‘Yashobhoomi Dwarka Sector 25’.
