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Coir Udyami Yojana

A credit-linked subsidy program, Coir Udyami Yojana or CUY is a scheme that has been developed by the government to help entrepreneurs set up a coir manufacturing unit. It serves as a combination of a loan and subsidy. The subsidy enables beneficiaries to avail a maximum of ₹ 10 Lakhs as a way to cover the cost of the project. To apply for the credit-linked subsidy, the applicant will have to make an upfront contribution to kickstart the project.

Businessmen interested in setting up a Coir manufacturing unit must apply to the Coir board of the given state. Read on to know more about availing the subsidy under the Coir Udyami Yojana.

Key Benefits of the Coir Udyami Yojana

The Coir Udyami Yojana is launched by the Central Government of India
The scheme is aimed to help develop small and micro-level coir industries across the country
The maximum limit on the cost available under Coir Udyami Yojana is up to ₹ 10 Lakhs
Initially, the entrepreneur will have to shell out 5% of the project cost
Through the subsidy, the applicant can avail 40% of the project costs, but, at times, 55% of the property amount can also be granted in the form of a loan
The loan is granted with a concession to reduce the repayment burden
The funds can be used to cover all kinds of capital purchases
Companies, Individuals, NGOs, Self-Help Group, Registered Society, Production Co-Operative Society and Charitable Trust can apply for this scheme

The beneficiary should not have availed of any other government-driven subsidy scheme.

Coir Udyami Yojana – Required Documents

Cast certificate – This must be issued by the competent authority that enables certain caste to avail certain government subsidy schemes

Complete details on the project cost – This should include the capital expenditure, machinery, building any kind of expenses that will be incurred when setting up the unit
Report on the working capital cycle and requirement – This document is applicable when the applicant wants to avail working capital loan from the bank
Industrial Establishment Certificate
KYC documents – Different kinds of Identification proof and Residential proof as listed by the board
Registration documents – This applies to non-individual applicants
Property documents – These documents must include details about the property on which the manufacturing unit will be established
Proof of experience – This document must prove the relevant experience in the coir industry
Entrepreneurship Development Program Certificate
Civil construction work plan as issued by the Charter Engineer

Steps to Avail the Coir Udyami Yojana – Offline

You may apply for the Coir Udyami Yojana scheme offline by visiting any of the below-mentioned offices.

Coir Board Offices
District Industrial Center
Coir Project Offices
Panchayati Raj Institutions
Nodal offices approved by the coir board

All you have to do is fill the form and attach the necessary documents before submitting the same at one of the centres.

Steps to Avail the Coir Udyami Yojana – Online

To apply for the Coir Udyami Yojana online, you must follow the given steps:

Step 1 – Login to the official website at http://coirservices.gov.in/.
Step 2 – Choose the Coir Udyami Yojana scheme and click on ‘Apply’
Step 3 – Next, click on ‘New Login Registration’.
Step 4 – Once you are registered, you must enter all the basic requested details that include full name, mobile number, email ID and Aadhar number.
Step 5 – Click on ‘Confirm’ to complete the process.

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Is the Entrepreneurship Development Certificate important? Why?

Yes, the Entrepreneurship Development Certificate is an important document that is required to be eligible for the Coir Udyami Yojana. The certificate can be acquired after undergoing training through the Entrepreneurship Development Program (EDP). It has to be submitted to the authorities of the Coir board who then recommend the loan application with the bank.

Does an applicant have to purchase machinery when applying for the Coir Udyami Yojana?

Yes, an applicant has to buy machinery as specified by the Coir Board.

Does the Coir Board help market the products that are produced under the Coir Udyami Yojana?

Yes, the Coir Board does help to market the products that are produced under the Yojana. A particular budget is set up to help exhibit the products at different exhibition events across the country. Simply put, the board assists the applicant with marketing the products at a reasonable rate.