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Related Keywords: demonetization of high value currency, lending small loans, micro-finance companies, no takers grey fabric, powerloom industry, powerloom weavers, reeling under crisis, Sircilla textile town

The micro-finance companies (MFIs) taking advantage of demonetization of high value currency are slowly re-entering the Sircilla textile town and lending small loans to powerloom weavers. Demonetization has cast its shadow on the powerloom industry which is already reeling under crisis due to no-takers for their grey fabric (produce) in Sircilla textile town.

Related Keywords: a source of livelihood, cultural heritage of hill, end of subsidy on woolen yarn, Himachal Pradesh weaving industry, lack of promotion, market accessibility, reeling under crisis, Weaving is a rich

Himachal state's weaving industry that was already reeling under crisis for want of proper policy industry. The downward slide in the industry began in late 90s owing to increased competition, lack of promotion and market accessibility. With the union government ending subsidy on woolen yarn, it has put the weaving industry further into very difficult situation.

Not only Himachal Pradesh, but weavers of neighbouring states of Uttarakhand and Jammu and Kashmir, in fact weaving industry largely depends upon wool is facing an uncertain future.