PM Modi Inaugurates Yashobhoomi
Prime Minister Narendra Modi inaugurated the first phase of the India International Convention and Expo Centre (IICC) known as Yashobhoomi in New Delhi’s Dwarka. During the inauguration, he highlighted the significance of such convention centers in making Delhi a major hub for conference tourism.
Additionally, PM Modi launched the ‘PM Vishwakarma’ scheme, which aims to provide financial assistance and support to traditional craftsmen and artisans. The scheme, offering loans without collateral at minimal interest rates, is expected to create employment opportunities for thousands of youth.
Yashobhoomi: A Hub for Conference Tourism
Prime Minister Modi emphasized that centers like Yashobhoomi and Bharat Mandapam would establish Delhi as one of the largest conference tourism hubs. He anticipates that Yashobhoomi alone will generate employment opportunities for thousands of young individuals. Moreover, the India International Convention and Expo Centre will play a vital role in promoting local products globally.
PM Vishwakarma Scheme: Empowering Artisans
On the occasion of ‘Vishwakarma Jayanti,’ PM Modi launched the ‘PM Vishwakarma’ scheme. This initiative is designed to provide financial support to traditional craftsmen and artisans, including weavers, goldsmiths, blacksmiths, laundry workers, and barbers.
#WATCH | Prime Minister Narendra Modi says "Under the PM Vishwakarma scheme, the government will provide up to Rs 3 lakhs loan without any (bank) guarantee. It has also been ensured that the interest rate is also very low. Govt has decided that Rs 1 lakh loan will be given in the… pic.twitter.com/eyfG6pvA6k
— ANI (@ANI) September 17, 2023
It offers collateral-free enterprise development loans, with the government investing ₹13,000 crore over five years. The scheme aims to benefit approximately 30 lakh families and stimulate economic growth in this sector.
Key Highlights of PM Vishwakarma Scheme
- Collateral-free loans up to ₹3 lakh without bank guarantees.
- Low interest rates to make credit accessible.
- Specialized training for beneficiaries with an additional ₹500 incentive.
- Focus on branding, packaging, and marketing support.
- Encouraging artisans to purchase ‘Made In India’ toolkits from GST-registered shops.
Yashobhoomi and Delhi Airport Metro Connection
Yashobhoomi will be linked to the Delhi Airport Metro Express line through the newly inaugurated ‘Yashobhoomi Dwarka Sector 25’ station. This extension will reduce travel time between New Delhi Metro Station and Yashobhoomi to approximately 21 minutes, enhancing accessibility to the convention center.
PM Modi stressed the importance of supporting local products during upcoming festivals such as Ganesh Chaturthi, Dhanteras, and Diwali, aligning with the ‘Vocal for Local’ vision. Highlighting the immense opportunity in conference tourism, estimated at ₹25 lakh crore, PM Modi underlined its significance for India’s economic growth.
Wrap Up
The inauguration of Yashobhoomi and the launch of the PM Vishwakarma scheme mark significant steps towards boosting conference tourism and empowering traditional artisans in India. These initiatives align with the government’s ‘Vocal for Local’ and ‘Make in India’ initiatives, aiming to promote indigenous craftsmanship and economic growth in various sectors.
