SFURTI Scheme

The Strategy of Fund for Renewal of Traditional Industries (SFURTI), was launched in 2005 to foster clustered economic growth in the nation. The Khadi and Village Businesses Council (KVIC) acts as the focal point for the advancement of Khadi Clusters. As an alternative, Coir Board serves as the hub organisation for coir-related clusters. 

This program was implemented to boost the conventional artisan industry, increase its profitability, strengthen its nationwide presence, increase its visibility, and ensure profitability. There will soon be additional job opportunities and shared facility hubs, making this plan especially attractive to artisans employed in the traditional sectors.

• You can receive a sum of up to ₹8 Crores in funding under the SFURTI program. 

• Historical Clusters may also qualify for the SFURTI scheme for receiving a sum of up to ₹8 Crores if they employ between 1,000 and 2,500 craftspeople.

• Clusters with 500-1000 craftspeople may get a sum of up to ₹3 Crores, while clusters with 500-4999 workers may avail a sum of up to ₹1 Crore.

• The number of artisans per cluster relaxation is provided in North Eastern states, and Jammu and Kashmir. This relaxation is around 50% as compared to the clusters in other states.

The following types of registered Indian businesses and business owners are eligible for the SFURTI scheme:

• Collectives that are not part of the government (NGOs)

• Partially-owned governmental organisations

• Institutions of the federal and state governments

• Community rule organisations (also known as PRIs)

• Agents of the state and federal governments in various fields

Follow the steps mentioned below to apply for the SFURTI scheme:

• Visit the nearest KVIC and SFURTI State Office in your area.

• Submit a proposal containing the business details and P&L data.

• After evaluation by the State and Zonal committees, you’ll receive an intimation about approval or with a request to submit further documents. 

• After verification, your request will be sent to the SFURTI Scheme Steering Committee for the final approval.

• After this, the requisite loan is granted immediately.

To apply for the SFURTI scheme, one must furnish the following documents for speedy verification:

• Proof of Ownership

• Proof of Business Registration

• Income and P&L statements

• KYC documents such as ID proof, residential address, PAN details, etc.

SFURTI suggests three specific measures to facilitate the growth of regional Indian MSMEs. They are as follows:

1. Soft intervention strategies refers to things like raising people's level of knowledge and understanding, providing them with opportunities to learn new skills, encouraging them to attend seminars, providing them with guidance and counselling, promoting their products and services to the market, inspiring them to take action, fostering a culture of trust within their organisations, creating new structures and programs, encouraging them to take action, and so on.

2. Complex interventions include upgradation of equipment and technology, manufacturing infrastructure, quality enhancement, and storage and practice facilities to learn more about different goods and packaging options.

3. Focusing on domestic and foreign markets, thematic interventions are effective for several sub-clusters within the same industry. E-Commerce activities, brand development, digital media advertising, and promotional efforts are the core focus of these interventions.

If your business meets SFURTI's requirements and eligibility criteria, you can submit a proposal to the appropriate KVIC wing with relevant documents and a duly filled application form. The form is usually available at any KVIC office or regional government centres promoting the SFURTI scheme, especially in rural areas. However, before the Advisory Board approves the plan, it will be reviewed by regional and zonal level authorities. The fund will be disbursed once the business details have been verified and the application is approved. For more information on the SFURTI scheme, visit their website.