Narendra Modi launches PM Vishwakarma Scheme: Financial aid for 30 lakh traditional craftsmen

Indian Prime Minister Narendra Modi unveiled the PM Vishwakarma Scheme on Vishwakarma Jayanti, offering collateral-free loans at a concessional rate of 5% to traditional craftsmen and artisans. With a budget of Rs 13,000 crores for five years, the initiative aims to benefit about 30 lakh families including weavers, goldsmiths, and barbers.

PM Vishwakarma Scheme: A Financial Lifeline for Traditional Craftsmen

Narendra Modi launched the PM Vishwakarma Scheme to support traditional craftsmen and artisans in India. The Prime Minister distributed Vishwakarma certificates to 18 beneficiaries, who will get collateral-free loans of up to Rs 3 lakhs. “The government has come forward as a partner to elevate the respect, enhance the capabilities, and assist the prosperity of the Vishwakarmas,” Modi stated.

Yashobhoomi Convention Center: A New Hub for Conference Tourism

The Prime Minister also inaugurated Yashobhoomi, a state-of-the-art convention center in southwest Delhi, built at a cost of Rs 5,400 crores. The facility boasts over 1.8 lakh square meters of built-up area, aiming to become one of the world’s largest MICE facilities. Modi emphasized that the conference tourism sector in India holds potential worth more than Rs 25,000 crores.

Indian PM inaugurates Yashobhoomi: Delhi’s newest convention center with world-class facilities. Photo courtesy of Prime Minister’s Office, Government of India/Wikimedia Commons.

Bridging Tradition and Modernity: Focus on Local Artisans

Modi underscored the role of traditional craftsmen in modern society, emphasizing the need to be “vocal for local.” “Our Vishwakarma colleagues are the pride of Make in India, and this international convention center will become a medium to showcase this pride to the world,” he mentioned. He also urged people to buy local products during upcoming festivities like Ganesh Chaturthi, Dhanteras, and Deepawali.

Looking Forward: Employment and Global Attraction

In his address, Modi pointed out that Yashobhoomi and Bharat Mandapam centers in Delhi are set to become the biggest hubs for conference tourism, offering employment opportunities to lakhs of youth. “Today I invite people associated with the exhibition and event industry from countries around the world to come to Delhi,” the Prime Minister invited.

In summary, the new PM Vishwakarma Scheme and the inauguration of Yashobhoomi mark significant milestones in India’s efforts to support its traditional artisans and bolster its position in the global event industry.