Indian Coir Sector registers record growth last Financial Year

coir board
coir board

The export of Coir and Coir products from the country has touched an all time high of 2282 crore rupees by value and 9.57 Metric Tones in quantity during 2016-17.

This was stated by Union Minister for Micro Small and Micro Medium Enterprises Giriraj Singh in Kochi. He said, this represents an increase by 27 per cent over value and 20 per cent over quantity comparing to the previous year.

Mr Singh said the Coir Board is going ahead with a project to fabricate a versatile spinning machine capable of producing yarn with uniform thickness in large quantity.

The Minister also stated that to promote larger investments by entrepreneurs, introduction of a scheme with a financial support up to 2.5 crore rupees is under consideration of the government.

The feasibility of a National Mission for taking the industry to greater heights is being examined, he said.

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