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Home Economy

Handicrafts and Handlooms Export Corporation of India Limited (HHEC)

March 17, 2021
in Economy
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Handicrafts and Handlooms Export Corporation of India Limited (HHEC)
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In news : Recently, the Union Cabinet has approved the closure of Handicrafts and Handlooms Export Corporation of India Limited (HHEC)

Key updates

  • Why closure: The Corporation has been continuously incurring losses since financial year 2015-16 and not earning sufficient income to meet its running expenses. 
  • All the permanent employees and Management Trainees will be given an opportunity to avail the benefit of a Voluntary Retirement Scheme (VRS) as per norms laid down by the Department of Public Enterprises.
  • The approval will benefit the Government exchequer in reducing recurring expenditure on salary/wages of sick CPSE which is not in operation and earning no income.

About Handicrafts and Handlooms Export Corporation of India Limited (HHEC)

  • It is a Central Public Sector Undertaking under the administrative control of the Ministry of Textiles, Government of India 
  • Formation: 1958
  • Objectives: It was established with the following twin objectives
    •  To undertake export of Handicrafts, Handlooms Products, Khadi & Products of Village Industries from India.
    • Export Promotion and Trade development of Handicrafts and Handlooms products (including hand-knotted woolen carpets and ready made garments) and also to undertake export of gold and silver jewellery/articles and import of bullion, timber and other raw materials.
  • HHEC products:It included Handlooms, Handicrafts, Jewellery etc

Bodies under Ministry of Textiles

Autonomous Bodies

  • Central Wool Development Board
  • Sardar Vallabhbhai Patel International School of Textiles and Management

Attached offices

  • Office of the Development Commissioner(Handlooms)
  • Office of the Development Commissioner (Handicrafts)

Subordinate offices 

  • The Office of the Textile Commissioner (TXC) 
  • Office of the Jute Commissioner

Public Sector Undertakings

  • The National Textile Corporation Limited (NTC) 
  • National Handloom Development Corporation (NHDC) 
  • Cotton Corporation of India (CCI)
  •  Central Cottage Industries Corporation of India Ltd
  • The British India Corporation Ltd. (BIC) 
  • Jute Corporation of India (JCI) Ltd
  • National Jute Manufactures Corporation Ltd. (N.J.M.C.)
  • Birds Jute & Exports Ltd. (BJEL)

Statutory bodies

  • National Jute Board (NJB), Kolkata
  • The Central Silk Board (CSB)
  • The Textiles Committee
  • The Office of Commissioner of Payments 
  • The National Institute of Fashion Technology
Source: PIB
Tags: PIBPrelims

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