India Expands Financial Assistance for the Growth of the Silk Sector
India has significantly increased its financial support for the silk industry, allocating ₹900 crore for the fiscal year 2024-25. This funding aims to promote sericulture practices, enhance research, and improve silk production and quality across the country.
The Central Silk Board (CSB), the primary agency overseeing the development of the silk industry in India, will utilize these funds to:
Promote Sericulture Practices: Encourage the adoption of scientific sericulture methods among farmers to boost productivity and sustainability.
Enhance Research: Invest in research and development to improve silk production techniques and develop high-quality silk varieties.
Improve Silk Production and Quality: Implement measures to elevate the overall quality and quantity of silk produced in the country.
This financial boost is part of India’s broader strategy to strengthen its textile sector, which is projected to grow to US$350 billion by 2030, generating millions of jobs in the process.
The silk industry holds significant importance in India, not only for its economic contribution but also for its role in providing sustainable livelihoods, especially in rural areas. The government’s increased investment underscores its commitment to revitalizing and expanding this traditional industry.
