- Scheme of Fund for Regeneration of Traditional Industries (SFURTI) is a scheme which was launched with the view to make traditional industries more productive and competitive and also to facilitate their sustainable development in 2005.
- SFURTI was implemented by Ministry of Micro, Small and Medium Enterprise (MSME) and its organizations (Khadi and Village Industries Commission-KVIC and Coir Board), in collaboration with State Governments, their organizations and non-governmental organizations
- SFURTI deals with ‘traditional industry cluster’ which includes a large number of artisans, suppliers of raw materials, traders, service providers which are similar in nature of business opportunity and the threats that they face.
- Traditional Industry comprises of three kinds of industries namely Khadi, Coir based and Village Industry with which SFURTI deals with.
- Various Khadi and Village Industries (KVI) were merged in SFURTI by planning commission in XII plan in 2014 with the aim of developing around 1800 clusters of KVI by investing around 850 crores and covering 4 lakhs artisans
- These various clusters under SFURTI were made so that funds and resources could be concentrated on the target areas and high growth and development could be achieved in these very areas.
Benefits of this Scheme
- This scheme covers three kinds of interventions namely ‘soft intervention’, ‘hard intervention’ and ‘thematic intervention’ and all of these interventions helps in enhancing the competitiveness of traditional industries in different ways.
- It would help in developing clusters of traditional industries in various parts of the country.
- It would help in organizing the traditional industries and artisans into clusters to make them competitive and provide support for their long term sustainability.
- It would be beneficial in enhancing marketability of the clusters by providing support for new product development, design intervention and improved packaging.
- It would help traditional artisans of the clusters to improve their skills through training and exposure visits.
- It would be helpful in creating critical infrastructure and other common facilities for manufacturing value added products.
- It would also help in strengthening the cluster governance systems with the active participation of the stakeholders.
- It would be beneficial in building up innovative and traditional skills, improved technologies, advanced processes, market intelligence and new models of public-private partnerships, so as to gradually replicate similar models in cluster-based traditional industries.