MSME Sector Current Affairs - 2020

Category Wise PDF Compilations available at This Link

First Silk Processing plant in Gujarat to boost “PATOLA SAREE” production

On January 3, 2020, the Khadi and Village Industries Commission (KVIC) inaugurated the first “Patola Saree” production unit in Gujarat. This will help to cut down the cost of silk yarn production and also will increase the sale of raw material for Patola sarees.

Highlights

The silk production plant has employed 90 local women of which 70 belong to Muslim community. The installation cost of the plant was Rs 75 lakh and the KVIC operating under Ministry of MSME has contributed Rs 60 lakhs. The plant has been built in a backward district of Gujarat (Surendranagar district). The aim of the plant is to make silk readily available to Patola saree manufacturers to boost its production.

Patola Saree

Patola is the trademark saree of Gujarat. They are highly expensive and were once worn only by royal aristocratic families. With the new plant, the cost is expected to come down.

The idea behind the installation of new plant is to buy cocoon from the states of Karnataka and West Bengal and process them in the plant. This will help reduce the cost of production to a great extent.

Among all silk varieties in India, Patola sarees are among the top 5 silk sarees.

History

The Patola silk was founded by the Salvi caste (Scheduled) in the states of Maharashtra and Karnataka. They moved to Gujarat in 12th century in order to acquire patronage of Rajputs.

Get these updates on Current Affairs Today Android App

Bharatcraft portal:  Government to launch e-commerce marketing platform

Union Minister Nitin Gadkari has announced that Union Ministry of Micro, Small and Medium Enterprises (MSMEs) is planning to launch Bharatcraft portal, a desi version e-commerce marketing platform. It will be based on the lines of e-commerce behemoths such as Alibaba and Amazon. It will provide platform for MSMEs to market and sell their products and in turn boost the overall sector. It has potential to achieve revenues of around Rs 10 lakh crore in the 2-3 years.

Need for portal

MSME sector currently contributes nearly 29% to the manufacturing segment and 40% to the exports. It has potential to generate additional employment of 5 crore in the next five years. Union Government has set target to increase contribution of MSMEs in the manufacturing sector to 50% in the next five years.

Get these updates on Current Affairs Today Android App