Guwahati: One of the primary bamboo-growing regions, Assam has long recognized bamboo’s importance as a sustainable resource. From construction materials to paper products, furniture, and even as a raw material for handicrafts, bamboo plays a significant role in Assam's growing economy.
Aiming to strengthen the bamboo sector, the State Bamboo Development Mission in Assam, in collaboration with the Rainforest Research Institute (RFRI), NeDFi, and other stakeholders, recently hosted a workshop to enhance bamboo production, product innovation, and improve market access.
During an interview with Business North East (BNE), Lakshmanan S Iyer, Secretary, Govt of Assam, said, "The workshop on the emerging areas of the global bamboo industry and role of startups brought together more than 60 startups from across India, showcasing their innovations in bamboo-based products. The event highlighted the diverse applications of bamboo and its potential as a source of income for local communities, entrepreneurs, and the larger regional economy."
Renowned for its versatility and eco-friendliness, bamboo has gained significant attention for its ability to be used across diverse industries including - construction, textiles, paper production, and renewable energy. At the heart of the initiative is the State Bamboo Development Mission, which operates under the guidance of the Ministry of Agriculture, the Government of India, and the Assam state government.
Lakshmanan S Iyer also said that the objective is to improve bamboo cultivation, maximize its utilization, and provide optimal market accessibility. In addition to nurturing bamboo production, the mission aims to foster innovation and create new opportunities for startups within the bamboo sector. By encouraging startups to develop new bamboo products, the mission is working toward diversifying the applications of bamboo and strengthening its position in the national and international markets.
The vision for the bamboo mission goes beyond just increasing production. There is a concerted effort to make bamboo cultivation a sustainable practice. The challenge lies in not just producing bamboo but ensuring its long-term availability. This requires careful management, sustainable farming practices, and addressing issues such as soil health, water management, and preventing over-harvesting. Furthermore, the mission is focused on adding value to bamboo by promoting the production of value-added products, which can lead to increased economic returns for local farmers and entrepreneurs.
While discussing financial support Lakshmanan S Iyer stated that the mission provides targeted funding for specific activities such as developing nurseries and sapling support systems. However, the financial assistance for startups in the bamboo sector extends beyond these provisions. Several institutions, including NeDFi, SIDBI, and SBI, offer loans as financial assistance to small businesses involved in bamboo-related ventures. On the other hand, angel investors are willing to fund innovative bamboo product ideas while venture capital funds are available for startups. Moreover, the government has put in place schemes that support both nascent and established entrepreneurs.
ALSO READ: Driving India’s Clean Energy Transition: Bamboo As Biofuel Sparks New Opportunities In NE
He further mentioned the Chief Minister's Atmanirbhar Abhiyan which offers up to Rs 5 crore funding for projects aimed at regional development and entrepreneurship. Similarly, the Prime Minister's Mudra Scheme provides loans of up to Rs 20 lakh for micro and small businesses. Besides, startups with promising products can receive financial support ranging from Rs 5 crore to Rs 10 crore, based on their development stage and market readiness.
The future outlook for the bamboo industry in Assam and India looks promising. The workshop emphasized the importance of improving the quality of bamboo products and creating sustainable business models for entrepreneurs in the sector.
The mission's impending initiatives will focus on supporting startups with access to capital, offering technical assistance, and strengthening market linkages to ensure Assam's bamboo reaches global markets, promoting environmental sustainability and economic growth for local communities, an aim of the State Bamboo Development Mission. With a pipeline of bamboo products, strengthened by financial support, innovation, and market expansion, the future of Assam’s bamboo sector seems bright.
FIRST Business Portal addressing the potential of business capability of North East Region.
