Coir Udyami Yojana is a credit-linked subsidy based scheme that helps entrepreneurs set up coir manufacturing units for the maximum project cost up to Rs. 10 lakh. The Government of India has approved this scheme to facilitate the sustainable development of the country’s coir industry. The main aim behind the plan is to generate more employment, especially for women and weaker sections of the society.
Coir Udyami Yojana is a tool to enhance the MSME sector to contribute in a better way towards India’s economy. MSME or micro-units is the backbone of our Indian economy, requires improving tools to make them prosper and for the better growth of the economy. Coir Udyami Yojna acts as an effective instrument contributing to an advanced economy.
Coir Udyami Yojana is a scheme administered by the Ministry of Micro, small and medium enterprises. The coir board implements the scheme under the Ministry of MSME. The plan aims to develop the coir-related industry’s sustainable development and is under the ambit of MSME. However, the maximum permissible project cost is limited to INR 10 lakhs, which shall not exceed 25% of the project cost. The banks shall consider a composite loan instead of the term loan to cater to working capital requirements, which should be exclusive of the Rs.10 lakhs limit proposed. The start-up businessmen who are interested in establishing the coir manufacturing unit can avail of the benefit of this scheme. They can also apply to any coir board of the state or designated institute by the coir board.
The main objectives of the Coir Udyami Yojana include:
The Coir Udyami Yojana offers financial support for projects:
Applying for the Coir Udyami Yojana is very simple and sorted. One can avail the application form from any of the below-mentioned offices:
The correctly filled application form and all the necessary documents must be submitted to the Coir Board field offices or District Industrial Centre. One can also easily apply for the CUY scheme online by visiting its official website. After choosing the scheme and clicking on the ‘Apply online’ option. You will see a login window that requires login details. If you are not a registered user, then click on ‘New Login Registration.’ After that, you need to enter necessary details like full name, mobile number, email ID, Aadhar number, and security question and user name as per your preference. At last, you can click on ‘Confirm’ to complete the registration process.
Up-gradation of the credit limit or for modernization/expansion of the project, Margin Money assistance is unavailable.
Coir Board will operate awareness camps in those states that produce coconut to enhance the popularity of Coir Udyami Yojana and to enlighten conceivable beneficiaries with respect to the Scheme. The awareness camps will encompass participation from men as well as women, immersed in the coir sector, with a unique emphasis on special category, i.e., Minorities, SC, ST, OBC, Women, etc. The essential details in this regard will be attained by the Coir Board from DICs along with State Level organizations like
SC/ST Corporation, NGOs having a reputation, Nodal Agencies, and more. From the awareness camp, the beneficiaries would get shortlisted and propelled for training.
As an Aatmnirbhar Sena, we provide round the clock assistance to the MSMEs who are willing to get attached to the coir industry to bring glory to the sector with their contribution. We are conducting seminars and workshops to make more people vigilant about the coir industry and its contribution to India’s economy. India’s government is already hitting all parameters of providing aid and assistance to the coir industry under Coir Udyami Yojana. As their parallel line, we are also organizing professional workshops for the budding entrepreneurs to attract youths for the current industry and make them avail of all the benefits prescribed under the scheme.