Cabinet approves closure of Handicrafts & Handlooms Export Corporation of India

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The Union Cabinet, chaired by the Prime Minister, has approved the closure of Handicrafts and Handlooms Export Corporation of India Ltd (HHEC), a Government of India undertaking under the administrative control of the Ministry of Textiles.

The Corporation has been continuously incurring losses since financial year 2015-16 and has not been earning sufficient income to meet its running expenses. There is little scope for its revival, necessitating closure, said a release.