Entrepreneurship Program at ITI Gool Empowers Small Businesses

Introduction

Small businesses are the backbone of the Indian economy, contributing around 30% to GDP and employing over 120 million people. Recognizing this, the Khadi and Village Industries Board (KVIB), under the guidance of Deputy Commissioner Baseer-Ul-Haq Chaudhary, organized an Entrepreneurship Awareness Program at ITI Gool. This initiative was designed to inspire youth to embrace entrepreneurship and benefit from government self-employment schemes.

Why Entrepreneurship Awareness Is Crucial

Economic Significance

• Rural areas face challenges like unemployment and lack of industrial development.
• Entrepreneurship offers a pathway for self-reliance and community growth.
• Small businesses contribute to 45% of India’s exports, making them vital for economic stability.

Statistics at a Glance

Overview of the ITI Gool Program

The Entrepreneurship Awareness Program was held at ITI Gool, Ramban district, Jammu and Kashmir. The event included:

• Organizers: Khadi and Village Industries Board (KVIB).
• Supervisors: Deputy Commissioner Baseer-Ul-Haq Chaudhary and Director RSETI Harvinder Singh.
• Audience: Over 100 participants, including students, aspiring entrepreneurs, and locals.
• Key Features:
  • Interactive sessions
  • Information on government schemes
  • Networking opportunities

Government Schemes Highlighted

The program shed light on crucial government initiatives that support small businesses.

1. Prime Minister’s Employment Generation Programme (PMEGP)
   • Funding Limit: Up to ₹25 lakh for manufacturing units and ₹10 lakh for service units.
   • Eligibility: Entrepreneurs aged 18+ with no specific educational qualifications.
2. Jammu & Kashmir Rural Employment Generation Programme (JKREGP)
   • Focus: Employment generation in rural areas.
   • Subsidy: 25%-35% of the project cost.
3. Other Key Schemes:
   • Mudra Yojana: Loans up to ₹10 lakh for micro-enterprises.
   • Stand-Up India: Focus on SC/ST and women entrepreneurs.

For detailed information, visit the KVIB Official Website.

Key Activities and Sessions

The program featured several engaging activities, including:

• Expert Sessions:
  • Director RSETI Harvinder Singh emphasized utilizing SBI RSETI Ramban’s training modules.
  • Marketing Officer KVIB Ramban Sudhir Singh detailed market strategies and funding options.
• Interactive Q&A:
  • Participants received practical advice on creating business plans and managing finances.
• Networking Opportunities:
  • Entrepreneurs shared ideas and success stories to inspire others.

Success Stories and Practical Examples

Real-Life Impact

Several examples were highlighted during the event, showcasing how government schemes have transformed lives.

• Case Study 1:
  A small-scale textile entrepreneur in Ramban utilized PMEGP funding to expand operations and now employs 15 workers.
• Case Study 2:
  A group of women in Gool started a handmade soap business through Mudra loans, earning a collective income of ₹50,000 per month.

Challenges Faced by Small Businesses

Common Hurdles

• Limited access to finance
• Lack of business knowledge
• Inadequate infrastructure

How the Program Helps

• Provides financial and technical knowledge.
• Encourages youth to utilize resources like RSETI Ramban.

Impact on Economic Growth

Contribution to Local Economy

• Increased employment opportunities.
• Enhanced rural productivity.
• Promotion of local craftsmanship.

Measurable Outcomes (2023 Data)

• Jobs Created via PMEGP: Over 2.5 lakh.
• Loans Disbursed under Mudra: ₹5 lakh crore.

YouTube Resource

For a deeper understanding of how government schemes can transform small businesses, check out this informative video:

Watch: Government Schemes for Small Businesses in India

Conclusion

The Entrepreneurship Awareness Program at ITI Gool was a game-changer for the youth of Ramban. By introducing them to vital resources and inspiring them to take charge of their economic future, the event successfully planted the seeds for a thriving entrepreneurial ecosystem.

FAQs

1. What is the main purpose of PMEGP?
PMEGP aims to provide financial assistance to small-scale entrepreneurs for setting up new enterprises.

2. How can I apply for Mudra loans?
Visit your nearest bank or check the official Mudra Yojana Portal.

3. What kind of training does RSETI Ramban offer?
RSETI Ramban offers free training programs on business management, technical skills, and market strategies.

4. Who is eligible for JKREGP?
Residents of Jammu and Kashmir, especially rural youth, are eligible.

5. What is the role of KVIB?
KVIB promotes rural industries, provides funding, and offers technical assistance to entrepreneurs.