Investment Promotion Scheme (IPS) For Handicraft Artisans: Assistance For Capital Investment For The Handloom And Handicrafts Artisans Of The U.T. Requiring Financial Assistance For Purchase Of Machinery Or Raw Materials

A capital subsidy scheme for handloom and handicraft artisans in Dadra & Nagar Haveli and Daman & Diu, offering financial assistance for machinery purchases and working capital.

The scheme "Assistance For Capital Investment For The Handloom And Handicrafts Artisans Of The U.T. Requiring Financial Assistance For Purchase Of Machinery Or Raw Materials" operates as a sub-scheme under the broader "Investment Promotion Scheme (IPS)" for Handicraft Artisans. Initially launched on July 3, 2015, for five years, it has been further extended from May 20, 2022, and will remain operative until May 19, 2027. It is administered by the Department of Industries, U.T. Administration of Dadra & Nagar Haveli and Daman & Diu.

The primary objective of the overarching Investment Promotion Scheme (IPS) is to provide crucial incentives and assistance to the MSME Sector, fostering its growth and resilience against market fluctuations to ensure vibrancy and success. This initiative aims to establish the Union Territory as a specialized hub for the MSME sector, significantly increase women's participation in business, reduce local unemployment, and incentivize industries to employ resident laborers. Specifically, this sub-scheme focuses on supporting Handloom and Handicrafts artisans within the U.T. by offering capital subsidies for investments in machinery and providing assistance for working capital needs, such as the purchase of raw materials, essential for the development and expansion of their businesses. This targeted support helps preserve traditional crafts while enabling artisans to modernize and scale their operations.