(MENAFN- KNN India)
New Delhi, Aug 22 (KNN) In a significant move to support Prime Minister Narendra Modi's vision of a developed India, the Khadi and Village Industries Commission (KVIC) has entered into a strategic partnership with the Department of Posts.
The Memorandum of Understanding (MoU) was signed at KVIC's Rajghat office in New Delhi, marking a collaborative effort to enhance the implementation of the Prime Minister Employment Generation Programme (PMEGP).
Under this agreement, postal employees across India will conduct physical verifications of new units established under the PMEGP. To ensure effective execution, KVIC will provide specialized training to postal staff for these verification processes.
The MoU signing ceremony was attended by key officials, including KVIC Chairman Manoj Kumar, Joint Secretary of MSME Vipul Goyal, KVIC CEO Vatsalya Saxena, and General Manager of the Department of Posts, Manisha Bansal Badal. Dr. Amanpreet Singh, Deputy General Manager, represented the Department of Posts, while Rajan Babu, Deputy CEO of PMEGP, signed on behalf of KVIC.
This collaboration will leverage the extensive network of 1,65,000 post offices nationwide, with 139,067 located in rural areas, significantly expanding KVIC's reach.
KVIC Chairman Manoj Kumar emphasised that this partnership aligns with Prime Minister Modi's vision of interdepartmental cooperation. He stated, "This MoU will allow KVIC to benefit from the Postal Department's vast communication network, spanning over 150 years. It will expedite both the physical verification of PMEGP units and the disbursement of margin money subsidies."
Kumar highlighted the PMEGP's impressive track record, having supported over 9.69 lakh new projects and generated employment for more than 84.64 lakh entrepreneurs since its inception.
The scheme has disbursed Rs 25,563.44 crore in margin money subsidies against loans totaling Rs 69,021.29 crore. In the fiscal year 2023-24 alone, PMEGP created jobs for over 9.80 lakh entrepreneurs and distributed margin money subsidies exceeding Rs 3,093 crore.
The KVIC Chairman also noted the remarkable growth of Khadi and Village Industries over the past decade under Prime Minister Modi's leadership.
For the first time in independent India's history, the sector's turnover has surpassed Rs 1.55 lakh crore. The last ten years have seen a fivefold increase in sales and a fourfold rise in production of Khadi and Village Industries products, creating 10.17 lakh new jobs.
This partnership between KVIC and the Department of Posts represents a significant step towards realising the Prime Minister's vision of a developed India, leveraging the strengths of two key government departments to boost entrepreneurship and employment across the nation.
(KNN Bureau)
MENAFN22082024000155011030ID1108591141
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.