India-wide Release, 25th November 2024 – Sanjay Nigam, Founder of the Fashion Entrepreneur Fund (FEF), proposed the creation of a Craft Fund at the World Crafts Forum in New Delhi, held from November 22nd to 24th. The event, titled “CRAFT FUND: Establishing Craft Incubation and Entrepreneurship,” took place at the National Crafts Museum, focusing on the need to establish a robust ecosystem for artisans in India.
Mr. Nigam’s proposal for a Craft Fund aims to empower India’s artisans by integrating this fund with national initiatives such as Make in India and Startup India. The initiative will provide vital financial support, skill development, and sustainable livelihoods for artisans. By proposing this Craft Fund, Mr. Nigam envisions bridging the gap between heritage preservation and modern business practices, ensuring long-term growth for traditional crafts.
The panel discussion included Mr. Nigam, Shri Dilip Baid (Chairman of EPCH), Ms. Amrit Raj (Ministry of Textiles), Dr. M Beena, Mr. Raj Kumar (IIM-L), and Mr. Sundeep Kumar (Craft Village Advisory). They explored the need for an ecosystem supporting craft incubation, entrepreneurship, and market access for artisans.
Empowering India’s Artisan Community
Mr. Nigam, a strong advocate for India’s artisans, proposed the establishment of a public-private “Craft Fund.” This fund would integrate with national initiatives like Make in India and Startup India, providing financial support, skill development, and sustainable livelihoods for artisans. He suggested that the Ministry of Textiles and Handlooms lead the initiative, aiming to empower the artisan community and address key challenges.
With his experience in fashion entrepreneurship, Mr. Nigam highlighted how impact-driven investment models, such as the Fashion Entrepreneur Fund, can blend heritage preservation with modern business practices. His vision for the Craft Fund seeks scalable growth for traditional crafts and expanded opportunities in the global market.
Recognition for Cultural Heritage Commitment
Mr. Nigam’s contributions were honored by Honourable Shree Omar Abdullah Ji, Chief Minister of Jammu & Kashmir, in recognition of his efforts to support India’s cultural heritage and empower artisans. This award underlined the importance of collaborative efforts to preserve and promote traditional crafts in modern times.
Mr. Nigam shared, “It was an honor to participate in this important dialogue. Supporting artisans is close to my heart, and platforms like this reaffirm our shared responsibility to equip them with the resources they deserve.”
Building a Sustainable Future for Artisans
The panel also discussed policy measures and collaborations to scale grassroots enterprises and create a self-sustaining craft economy. Experts emphasized innovation, capacity-building, and institutional support to revitalize the sector and ensure its long-term success, preserving India’s rich artisan heritage.
The World Crafts Forum continues to inspire change in India’s craft and fashion sectors, reinforcing the country’s commitment to preserving artisan traditions while fostering innovation.
About Fashion Entrepreneur Fund (FEF)
The Fashion Entrepreneur Fund (FEF) is a venture studio dedicated to supporting the next generation of fashion entrepreneurs. By providing resources and mentorship, FEF helps aspiring entrepreneurs turn their ideas into successful businesses. Its collaborative ecosystem promotes growth, sustainability, and lasting impact within the fashion industry, empowering individuals and bridging gaps in the fashion landscape.
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