Modi Unveils Yashobhoomi and Empowers Artisans

Inauguration of India’s Mega Convention Centre and Artisan Empowerment

Attention India
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Modi Unveils Yashobhoomi and Empowers Artisans
  • Yashobhoomi: Delhi’s Global Hub for Conferences
  • PM Vishwakarma Scheme: Loans for Artisans, Training Included
  • Connecting Yashobhoomi to Delhi Airport: Enhanced Accessibility

17th September 2023,Mumbai: Narendra Modi Unveils Yashobhoomi

In a momentous occasion, Prime Minister Narendra Modi inaugurated the first phase of the India International Convention and Expo Centre, known as Yashobhoomi, in Dwarka, New Delhi. During the inauguration, Modi emphasized the pivotal role Yashobhoomi and other similar facilities will play in elevating Delhi to a global conference tourism hub.

PM Vishwakarma Scheme: Empowering Traditional Craftsmen

On this significant day, Modi also launched the ‘PM Vishwakarma’ scheme, dedicated to empowering traditional craftsmen and artisans. Under this scheme, these skilled individuals will receive low-interest loans without the need for collateral. This initiative holds the promise of creating employment opportunities for lakhs of young people through Yashobhoomi Convention Centre.

Boosting Local Products Globally

Modi highlighted the India International Convention and Expo Centre’s potential in promoting local products on the global stage. He emphasized that this center, along with others like Bharat Mandapam that hosted the recent G20 Summit, will contribute significantly to showcasing India’s diverse offerings to the world.

PM Vishwakarma Scheme: A Lifeline for Artisans

With a budget of ₹13,000 crore over five years, the PM Vishwakarma scheme is set to benefit approximately 30 lakh families of traditional artisans and craftsmen, including weavers, goldsmiths, blacksmiths, laundry workers, and barbers. Modi affirmed the government’s commitment to allocating these funds to support the artisans’ growth and development.

Tech Meets Tradition: G20 Craft Bazaar

Modi celebrated the fusion of technology and tradition during the G20 Craft Bazaar, demonstrating the potential when these elements converge. He also mentioned that gifts crafted by Vishwakarma artisans were presented to G20 delegates, highlighting the artisans’ exceptional skills.

PM Vishwakarma Scheme: Easy Access to Loans

Under the PM Vishwakarma scheme, the government will offer loans of up to ₹3 lakh without requiring bank guarantees. This scheme ensures low-interest rates, with an initial ₹1 lakh loan followed by an additional ₹2 lakh once the first loan is repaid. Specialized training will also be provided, emphasizing the importance of skills and knowledge.

Supporting ‘Made in India’: Toolkit Vouchers

Modi encouraged artisans and craftsmen to purchase ‘Made In India’ toolkits from GST-registered shops. As an incentive, they will receive a toolkit voucher worth ₹1,500. The government will extend support for branding, packaging, and marketing of their products, with the condition that they purchase toolkits exclusively from GST-registered shops.

Unveiling Tradition: Customised Stamp Sheets

Modi unveiled 18 customised stamp sheets representing the 18 traditional trades covered under the Vishwakarma scheme. This gesture symbolized the government’s commitment to celebrating and preserving India’s rich artisanal heritage.

Vishwakarma Scheme: Empowering Artisans

The Vishwakarma scheme aims to enhance the accessibility and quality of products and services offered by traditional artisans and craftsmen. It provides collateral-free enterprise development loans of ₹1 lakh (with 18 months repayment) and ₹2 lakh (with 30 months repayment). The concessional interest rate of 5 percent, capped at 8 percent with the government’s support, ensures affordability for beneficiaries.

Yashobhoomi: A Global MICE Hub

Spanning over 8.9 lakh square meters with a built-up area of more than 1.8 lakh square meters, Yashobhoomi is set to become one of the world’s largest MICE (Meetings, Incentives, Conferences, and Exhibitions) facilities. Modi’s call for ‘Vocal for Local’ resonated strongly as he urged people to buy local products during upcoming festivals like Ganesh Chaturthi, Dhanteras, and Diwali.

Conference Tourism’s Enormous Potential

Modi recognized the immense potential of conference tourism, estimating it to be worth ₹25 lakh crore. Yashobhoomi and similar facilities will play a pivotal role in harnessing this opportunity for India.

Seamless Connectivity: Yashobhoomi to Delhi Airport Metro Express

Yashobhoomi will be seamlessly connected to the Delhi Airport Metro Express line with the inauguration of the ‘Yashobhoomi Dwarka Sector 25’ station. This nearly 2 km-long extension will reduce travel time to the newly-built station to just 21 minutes, contributing to efficient connectivity.

Investing in Artisans: PM Vishwakarma’s Financial Outlay

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister, approved the ‘PM Vishwakarma’ scheme with a significant financial outlay of ₹13,000 crore over five years. This substantial investment demonstrates the government’s commitment to uplifting and empowering India’s traditional artisans and craftsmen.

 The Inauguration of Yashobhoomi and the launch of the PM Vishwakarma scheme represent a significant stride toward empowering traditional artisans and positioning India as a global hub for conferences and exhibitions. These initiatives hold the promise of economic growth, cultural preservation, and global recognition for India’s rich heritage.

-by Kashvi Gala

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