Centre to modernise powerlooms, set up bank for weavers

The Centre has set a target of modernising 23 lakh powerlooms and also establish a separate bank to meet financial needs of weavers.

Nearly 23 lakh powerlooms would be modernised nationwide in the next few years, Union Minister for Textiles Kavuri Sambasiva Rao said today.

A Yarn Bank will be established soon to meet financial needs of weavers, he said, speaking after inaugurating a powerloom modernisation project at Sircilla in Karimnagar district.

Rao, during his visit, inaugurated a weaving centre and a textile park in Sircilla.

The Minister assured proper implementation of Government- backed health insurance scheme for weavers and promised to push for waiver of their loans.