What happened: VCF-SC financial assistance supported export-oriented towel manufacturing
The Ministry of Social Justice and Empowerment reported that the Venture Capital Fund for Scheduled Castes (VCF-SC) supported J'Yani Fabrics Pvt. Ltd. to expand its export-oriented terry towel manufacturing unit in Sangli, Maharashtra. The enterprise, led by Mr. Aditya Jede, used the VCF-SC support to strengthen manufacturing capability, improve product quality for international markets, and expand operations alongside job creation.
VCF-SC financial assistance to J'Yani Fabrics Pvt. Ltd. was reported as follows:
₹2.39 crore financial assistance provided in 2017 through Venture Capital (Equity + Optionally Convertible Debentures) (a mix of equity and debt that can convert to ownership).The funded expansion focused on premium-quality terry towels, value addition, and building an export-oriented manufacturing ecosystem.
Background and earlier position: Need for timely finance to scale and meet standards
The PIB communication placed the textile manufacturing sector within India’s employment and export-linked economy, while noting that expanding production capacity and meeting international quality standards typically require timely financial support. J'Yani Fabrics Pvt. Ltd. was established in Sangli, Maharashtra, and the firm’s reported growth was linked to institutional assistance from VCF-SC.
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