Scheme of Fund for Regeneration of Traditional Industries (SFURTI) is an initiative by Ministry of MSME to promote Cluster development
- Mavcomm’s Technical Agency Empanelment done under MSME Technology Development Centre (PPDC), Meerut
- Mavcomm will provide technical and handholding support for SFURTI clusters
- Mavcomm will identify potential clusters and manage related activities
Mavcomm Consulting, one of India’s leading business and communications consulting firms has today announced that it has been empaneled for the ‘Scheme of Fund for Regeneration of Traditional Industries’ (SFURTI), an initiative by the Ministry of MSME. Technical Agency Empanelment has been done under MSME Technology Development Centre (PPDC), Meerut to provide technical and handholding support for SFURTI clusters. Mavcomm will identify potential clusters and manage related activities for SFURTI.
The scheme of Fund for Regeneration of Traditional Industries (SFURTI) was launched by the Ministry of MSMEs and the Government of India in 2005 to promote cluster development. A cluster development shall enable traditional industries to be more productive and profitable. The Ministry aims to set up 5000 clusters under the SFURTI initiative in the near future.
Speaking on the occasion, Anand Mahesh Talari, Managing Director of Mavcomm Consulting said, “In addition to our business focus, Mavcomm Consulting has been actively engaged in various activities that contribute towards nation’s development. Our empanelment for SFURTI allows us to contribute to the growth of traditional Industry artisans and rural entrepreneurs. We hope to bring in our experience of working with SME’s and expertise in consulting to support traditional industries and artisans to grow and become competitive leading to sustainability. We are looking forward to contributing towards capacity leading to the growth of Indian economy in line with the vision of Hon’ble PM Shri Narendra Modi of Atmanirbhar Bharat.”
“We believe the MSME sector is the engine of India’s rapidly growing large economy and looking forward to contribute meaningfully to this important effort to integrate traditional industries and our artisans into organised clusters.” Anand added.
- The MSME ministry is implementing the scheme with an aim to organise traditional industries and artisans into clusters to make them competitive and increase their income. Under the scheme, there will be provisions to support the creation of infrastructure through Common Facility Centres (CFCs), procurement of new machineries, creating raw material banks and improved packaging.
- The scheme was launched with a focus to step up the pace of formation of such clusters. Until February, there are 371 clusters which have been funded by the ministry with a total assistance of Rs 888 crore. The government is seeking to increase the share of the MSME sector in the country’s GDP to 40 per cent from the current 30 per cent and share of exports to about 60 per cent from 48 per cent, apart from creating 5 crore new jobs in the next five years in the MSME sector, according to reports.