The Union Cabinet on March 16, 2021 approved the closure of Handicrafts and Handlooms Export Corporation of India Limited (HHEC).
- It is a Government of India undertaking under the administrative control of the Ministry of Textiles.
- According to the government, there are 59 permanent employees and 6 Management Trainees serving in the Corporation. All the permanent employees and Management Trainees will be given an opportunity to avail the benefit of a Voluntary Retirement Scheme (VRS).
- The Corporation has been continuously incurring losses since financial year 2015-16 and not earning sufficient income to meet its running expenses. There is little scope for its revival, necessitating closure of the Company.
