Prime Minister Narendra Modi on Sunday inaugurated the first phase of the India International Convention and Expo Centre (IICC), named Yashobhoomi, in New Delhi’s Dwarka and said centres like this and Bharat Mandapam, which hosted the recently concluded G20 Summit, will make Delhi one of the biggest hubs of conference tourism.
After launching the ‘PM Vishwakarma’ scheme on the occasion of ‘Vishwakarma Jayanti’, under which traditional craftsmen and artisans will be provided loan assistance at a minimal interest rate without the need for collateral, Modi said lakhs of youth are expected to get employment opportunities through ‘Yashobhoomi’ Convention Centre.
“Centers like Bharat Mandapam and Yashhoomi will make Delhi one of the biggest hubs of conference tourism… Lakhs of youth are expected to get employment opportunities through ‘Yashobhoomi’ alone,” Modi told a gathering at the inauguration of ‘Yashobhoomi’.
Modi also said the India International Convention and Expo Centre will play a big role in taking local products globally.
With a financial outlay of ₹13,000 crore for a period of five years, the scheme will benefit about 30 lakh families of traditional artisans and craftsmen, including weavers, goldsmiths, blacksmiths, laundry workers, and barbers.
“The government will spend ₹13,000 crore on PM Vishwakarma Yojana,” Modi said.
“The world saw what happens when technology combines with tradition during the G20 Craft Bazaar. We also gave gifts prepared by Vishwakarma friends to the G20 delegates,” said the prime minister.
PM Vishwakarma scheme: Govt to provide up to ₹3 lakh loan
Modi said under the PM Vishwakarma scheme, the government will provide up to ₹3 lakh loan without any (bank) guarantee. It has also been ensured that the interest rate is also very low. The government has decided that ₹1 lakh loan will be given in the beginning and when it is repaid, the government will provide an additional ₹2 lakh loan to the Vishwakarma partners, he added.
“In the near future, training, technology and tools will be very essential. Under ‘PM Vishwakarma’ scheme’, the government has focussed on providing special training to the Vishwakarma partners and ₹500 will be provided to you while the training is underway.
On the occasion, Modi also urged artisans and craftsmen to purchase ‘Made In India’ toolkits from GST-registered shops.
“You will also get a toolkit voucher worth ₹1,500. The government will also help you in branding, packaging and marketing the products you make. In return, the government wants you to purchase toolkits from shops that are GST registered only.”
PM Modi unveils 18 customised stamp sheets
Modi also unveiled 18 customised stamp sheets covering the 18 traditional trades whose workers are covered under the scheme, along with a toolkit e-booklet on the occasion of the launch of the Vishwakarma scheme.
What is Vishwakarma scheme or Yojana?
The goal of the Vishwakarma scheme is to enhance the accessibility and quality of products and services offered by traditional artisans and craftsmen. The scheme offers collateral-free enterprise development loan of ₹1 lakh (first tranche for 18 months repayment) and ₹2 lakh (second tranche for 30 months repayment).
A concessional rate of interest of 5 per cent will be charged from the beneficiary with an interest subvention cap of 8 per cent to be paid by the Ministry of Micro Small and Medium Enterprises. The credit guarantee fees will be borne by the central government.
About ‘Yashobhoomi’
With a total project area of over 8.9 lakh square metres and built up area of more than 1.8 lakh square metres, ‘Yashobhoomi’ will find its place among the world’s largest MICE (Meetings, Incentives, Conferences, and Exhibitions) facilities.
Stressing on the government’s vision of ‘Vocal for Local’, Modi also asked people to purchase local products during the forthcoming festivals, including Ganesh Chaturthi, Dhanteras and Diwali.
Modi further said that conference tourism, estimated at ₹25 lakh crore, presents a huge opportunity for India.
Yashobhoomi to be connected to Delhi Airport Metro Express line
Yashobhoomi will also be connected to the Delhi Airport Metro Express line with the inauguration of the new metro station ‘Yashobhoomi Dwarka Sector 25’.
The nearly 2 km-long extension of Delhi Airport Metro Express line from Dwarka Sector 21 to Yashobhoomi Dwarka Sector 25 station was inaugurated by Modi on Sunday. It will be opened to passengers later in the day.
The Delhi Metro has increased the operational speed of metro trains on the Airport Express Line to 120 kmph starting Sunday.
The journey from New Delhi Metro Station to the newly-built Yashobhoomi Dwarka Sector 25 station will take about 21 minutes.
The Cabinet Committee on Economic Affairs chaired by the prime minister had last month approved the new Central Sector Scheme ‘PM Vishwakarma’ with a financial outlay of ₹13,000 crore for a period of five years (FY 2023-24 to FY 2027-28).
(With inputs from agencies)
