What Is The SFURTI Scheme?

SFURTI stands for Scheme of Fund for Regeneration of Traditional Industries. In its effort to promote cluster development under the supervision of the Ministry of MSME, SFURTI was born. The programme’s primary objective is to increase the competitiveness and profitability of traditional industries throughout the country.

Industrial sectors with many employees must become more productive and economically viable. Therefore, the proposed SFURTI Yojana established Common Facility Centres, generating sustainable employment opportunities.

A principal objective of the SFURTI MSME scheme is to support rural artisans and entrepreneurs in the bamboo, khadi, and honey sectors.

Description

The objectives of the scheme is to organize the traditional industries and artisans into clusters to make them competitive and provide support for their long term sustainability, sustained employment, to enhance marketability of products of such clusters,to equip traditional artisans of the associated clusters with the improved skills, to make provision for common facilities and improved tools and equipments for artisans,to strengthen the cluster governance systems with the active participation of the stakeholders, and to build up innovated and traditional skills, improved technologies, advanced processes, market intelligence and new models of public-private partnerships, so as to gradually replicate similar models of cluster-based regenerated traditional industries

Nature of assistance

The financial assistance provided for any specific project shall be subject to a maximum of Rs 8 (eight) crore to support Soft, Hard and Thematic interventions.

Funding Under SFURTI

For any project, the SFURTI scheme provides maximum assistance of Rs 8 crores.

Note: The number of artisans per cluster reduces by 50% in the North Eastern Region / J&K and Hill States.

Objectives of the SFURTI Scheme

• Organise traditional and artisans industries into clusters to increase competitiveness
• Increase the marketability of these clusters' products and increase employment opportunities
• The improvement of artisans' skills
• Improve the tools and equipment available to artisans
• Strengthening cluster governance with active stakeholder participation
• Promoting the value of local cluster products and enhancing their advertising value. The new products of workers and artisans are assisted financially through the design process, packaging improvement, and marketing strategy development.

SFURTI will develop approximately 70 clusters that will require an investment of Rs. 149.44 crores. Furthermore, it is stated in the 12th Five-Year Plan that the administration will develop about 800 clusters with funding from the Government of India and the Asian Development Bank. For each cluster, the Government of India allocates three years to implement the project.

Entities Eligible Under The SFURTI Program

•Field functionaries of State and Central Governments
•Institutions of the Central and State Governments, as well as semi-government institutions
•Corporates and Corporate Responsibility (CSR) Foundations
•Private sector by forming cluster-specific SPVs
•Non-Government Organisations (NGOs)
• Panchayati Raj Institutions (PRIs)

Benefits Of SFURTI Scheme

Beneficiaries of the SFURTI scheme should be aware of several benefits of the program.

1. The scheme aims to improve the skills and manufacturing capabilities of the artisans of rural India in various associated clusters to improve their employment prospects and economic success. A series of exposure visits and special training will help accomplish this goal.

2. The SFURTI scheme enables actual provisions for facilities and centers. As a result, artisans and workers can improve the quality of their products and services by using improved equipment and tools. Indirectly, the scheme maximises an artisan's utilisation of various facilities.

3. Cluster stakeholders participate actively in the cluster governance system. In turn, these stakeholders seek market opportunities within these clusters, which leads to the economic growth of these organisations.

4. Cluster-based industries are created in subdivisional regions of districts under the scheme. Through this method, rural artisans and workers acquire practical and innovative skills that enable them to develop new business plans, upgrade technology, upgrade processes, and develop a sense of market intelligence to create new marketing partnerships.

5. By creating its integrated value chain, the scheme contributes to developing an economically sustainable ecosystem. The scheme also creates products and services tailored to the market to ensure the long-term sustainability of cluster-based industries.

6. The scheme facilitates the creation and marketing of products that meet the actual needs of current consumers. By organising their otherwise disparate product lines into a cumulative product line, the cluster can create products with maximum value by utilising the total artisan force.

7. Local artisans are encouraged to pitch their business and products to a wider market using E-commerce as a business growth and marketing channel. The scheme develops a meticulous strategy specifically for promoting the products and services of the local artisans in the online marketplace of E-commerce.