In a move to empower and digitise the handloom and handicraft sector in North East India, Tide, the UK’s leading SME-focused business financial platform has entered into a Memorandum of Understanding (MoU) with North Eastern Handicrafts and Handlooms Development Corporation (NEHHDC). Tide will collaborate with 800 Northeast India clusters to improve scalability, financial inclusion, and market reach for 2.1 million handloom weavers and 3.5 million artisans.
Tide will support financial and digital inclusion of weavers and artisans in North East India through a MoU. The company will host mentor panels, masterclasses, and community networking events. The region contributes 65% of India’s handloom production and has the highest participation of women. The partnership will elevate Tide’s India Chapter of ‘Women in Business’ and provide women handloom weavers with mentoring and knowledge sharing sessions.
Tide’s financial admin and advisory services will help weavers and artisans in Tier 2 and Tier 3 regions access financial services, promoting their inclusion in the formal economy. Gurjodhpal Singh, CEO, Tide India, said, “We are proud to partner with NEHHDC and are confident that our initiative will not only help enhance financial inclusion for these businesses but also create newer avenues to increase business opportunities and boost Indian art and heritage.”
