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Wednesday, January 27th, 2021

HHEC pays dividend of Rs. 35.43 Lakhs to Government of India

CMD, HHEC, Nirmal Sinha presenting the dividend cheque to the Minister of State for Textiles,Santosh Kumar Gangwar,Secretary, Ministry of Textiles, Dr. S.K. Panda,Nirmal Sinha Chairman-cum Managing Director HHECINVC NEWS

New Delhi, Shri Nirmal Sinha, Chairman-cum Managing Director, HHEC, presented a dividend cheque of Rs. 35.43 lakhs to Hon’ble Minister of State for Textiles (I/C), Shri Santosh Gangwar, on 30th October, 2015. HHEC is a Public Sector Undertaking under the Ministry of Textiles and a leading star export house engaged in the exports of handicrafts, handlooms, ready-to-wear garments, carpets, jewellery and imports of bullion. The Corporation has been continuously making profit from the Financial Year 2010-11; it resumed paying dividend since last year, after a gap of seven years.  In the Financial Year 2014-15, the Corporation achieved a turnover of Rs. 2,738.19 crores - an increase of 7.27%. In terms of profitability, HHEC achieved a net profit after Tax of Rs.3.40 crores in 2014-15 against Rs. 1.69 crores last year.  The Corporation is engaged in development of handicrafts and handlooms and in providing marketing platform to artisans and weavers across India for more than 50 years. In line with Hon’ble Prime Minister's direction to link textiles with tourism, HHEC has started opening souvenir shops on tourist destinations; it already has outlets at National Museum and Crafts Museum, Delhi, Salarjung Museum, Hyderabad; an outlet has been recently opened at Sarnath, Varanasi. These outlets provide high quality souvenirs of assured quality at reasonable prices, to visiting tourists . The Corporation is also part of the ambitious programme of Ministry of Textiles, in establishing Common Facility Centres (CFCs) and Common Service Centres (CSCs) at the clusters of artisans and weavers. HHEC presently runs two CFCs/CSCs at Koodi and Karghana of Varanasi District.Through these centres, the Corporation provides direct and indirect employment to 500-600 persons; besides this, around 1500-2000 artisans and weavers are connected to HHEC as vendors or otherwise.

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