New Delhi, Dec 18 (KNN) The Coir Board is in the process of rolling out a new scheme to assist the COIR units upgrade their technology and deploy modern machines, Coir Board Chairman C.P. Radhakrishnan said in a press interview.

Radhakrishnan said that the new program under the title Coir Industry and Trade Upgradation Scheme is to be introduced by the Ministry of Micro, Small and Medium Enterprises and will be implemented through the Coir boards.

Under the planned program, the board and will offer 25 per cent subsidy of the cost of the machinery or a maximum of 2.5 crore rupees to a Coir unit to undertake upgradation.

The new scheme is being planned in an attempt to modernise the Coir industry in the country, he added.

Highlighting the set targets of the sector, he further informed that Coir exports are likely to register 3,000 crore rupees in this financial year.

The chairman also inaugurated a two-day vendor development programme organised by MSME Development Institute and Coimbatore SIDCO Industrial Estate Manufacturers’ Association,

With regard to the MSME engagement in other sectors, he informed that the government is considering to bring a defence cluster and defence park to Coimbatore.

If goes as planned, the defence sector entering Coimbatore will enable a win win situation both for the sector and the MSMEs involved in the sector. (KNN/DA)