SFURTI

SFURTI

Why in news?

Ministry of Micro, Small and Medium Enterprises (MSME) has approved 111 proposals of clusters under SFURTI scheme.

About the scheme

• SFURTI is Scheme of Fund for Regeneration of Traditional Industries.
• Ministry of Micro Small and Medium Enterprises (MSME), Govt. of India has launched this scheme in the year 2005 with the view to promote Cluster development.
• Under the Scheme, financial assistance is provided for development of Khadi, coir and village Industries clusters. 
• For major clusters with more than 500 artisans the budget limit is Rs. 5.00 crore and for Regular Clusters with upto 500 artisans, the budget limit is 2.5 crore rupees.
• The following schemes are being merged into SFURTI:
• The Scheme for Enhancing Productivity and Competitiveness of Khadi Industry and Artisans
• The Scheme for Product Development, Design Intervention and Packaging (PRODIP)
• The Scheme for Rural Industries Service Center (RISC)
• Other small interventions like Ready Warp Units, Ready to Wear Mission, etc.

Objectives of Scheme

• To organize the traditional industries and artisans into clusters to make them competitive and provide support for their long term sustainability and economy of scale.
• To provide sustained employment for traditional industry artisans and rural entrepreneurs.
• To enhance marketability of products of such clusters.