KVIC launches Bamboo and Sandalwood Plantations initiative

On June 25, 2020, the Khadi and Village Industries Commission launched sandalwood and bamboo plantation in order to monetize the assets.

Highlights

KVIC began its drive of plantation by planting 500 saplings of bamboo and sandalwood at its Nashik training centre. The centre is spread over 262 acres of land. The sandalwood saplings were procured from Fragrance and Flavour Development Centre, Kanauj. The unit operates under the Ministry of MSME.

The Bamboo saplings were brought from Assam.

Significance

The plantations will now act as assets for the KVIC. It is estimated that the plantation will fetch Rs 50 crores to Rs 60 crores to the commission in 10 to 15 years. A sandalwood tree matures in 10 to 15 years. A single sandalwood tree sells at Rs 10 lakhs to Rs 15 lakhs.

The special kind of Bamboo brought from Assam called the Bambusa Tulda is to help the local Agarbatti industries. The bamboo plantations are to be planted in Maharashtra. A bamboo sampling gets ready for harvest in the third year. A matured log of bamboo sells at Rs 5 per kg.

Benefits

Bamboo plant has unique quality. Each bamboo sapling in its third year produces minimum of 5 logs. After their third year, the production of logs doubles every year.

Month: Current Affairs - June, 2020