The State’s sericulture industry is anticipated to get strengthened as a result of Chief Minister Siddaramaiah’s announcement of an interest-free loan of up to Rs. 5 lakh for silk reelers during the State Budget 2023–24 presentation. According to Siddaramaiah, the interest-free loan up to RS. 5 lakh provided to silk reelers will also allow them to take an active role in the acquisition of cocoons.
To aid silk farmers in Kolar, Chickballapur, and the adjacent districts, the CM has also said that the Shidlaghatta cocoon market will be transformed into a high-tech silk cocoon market at a cost of Rs. 75 crore.
Ramanagaram and Shidlaghatta markets are two of the largest silk cocoon markets in Asia. The cocoon market in Shidlaghatta would also be transformed as a hi-tech silk cocoon market, while a hi-tech market was already being built in Ramanagaram at a cost of Rs. 75 crore.
Additionally, Siddaramaiah stated that the Mysuru Seed Area’s infrastructure would be improved. “This will facilitate production of good quality disease-free Mysuru seed cocoons, distribution of these cocoons to commercial silk growers and production of better quality hybrid raw silk,” the Chief Minister said.
The textile industry welcomed the CM’s move to strengthen the silk market in Karnataka. Mayank Tiwari, Founder and CEO, ReshaMandi said of the move, “We welcome the initiatives announced in the Karnataka budget to strengthen the silk industry. The development of hi-tech markets in Ramanagara and Sidlaghatta , two of Asia’s largest silk cocoon markets, at a cost of Rs. 75 crore each, showcases the government’s commitment to empowering silk farmers in the state. This will certainly go a long way in boosting productivity of the silk industry in the region.”
He added by saying, “Additionally, the strengthened infrastructure in the Mysuru Seed Area is a visionary step that will support the production of disease-free Mysuru seed cocoons, ensuring the availability of superior-quality hybrid raw silk. We commend the government’s decision to provide interest-free loans up to Rs. 5 lakh to silk reelers, enabling them to actively participate in the purchase of cocoons.”
