News

12,000 new jobs in India through ICCO Investment

Our impact investment fund ICCO Investments has invested € 530,000 in the Indian company Eco Tasar Silk Pvt Ltd. The investment will boost the company’s activities and create 12,000 new jobs by 2021.

12,000 new jobs in India through ICCO Investment

ICCO Investments has made a quasi equity investment in Eco Tasar Silk Pvt Ltd. (India). With the ICCO investment, Eco Tasar is expecting to impact at least 15,000 producers by 2021 from the current 3,000. An increase of five folds. The company is also targeting to increase incremental annual income of each producers to at least Euro 250 compared to current additional income of Euro 140. This is an increase of almost 80%. Eco Tasar will also strive for at least 30% of their revenue being paid as wages to small producers.

Green product and fair trade

Eco Tasar begun in 1984, also with support from ICCO Cooperation, as a livelihood promotion project by Pradan, an NGO of national stature in India. Based and located in Jharkand, one of the most economically backward states in India, the project provides for natural commercial aggregation of Tasar silk yarn from these sources.

The principles of Fair Trade are adhered to studiously, in the manufacturing process of the silk products. No child labor is involved. And utmost care is taken to make a truly green product: from the silkworms that are reared on live trees to natural vegetable dyes.

Impact on thousands of people

In 1996, after several years of community training & mobilization, women were mobilized to make yarn as a livelihood. In 2007, Eco Tasar was formed as a private company to take forward the textiles part of the business. The Company has a wide range of high quality tasar products that includes items like scarves, stoles, sarees, and shawls and fabricated items like cushion covers and duvet covers which they supply to domestic as well as international markets. The products are being sold worldwide through both regular and fair trade channels.

Eco Tasar has constantly strived to create sustainable income for the lowest level in the livelihood pyramid. Weave a Hope is Eco Tasar’s program to reach out, to develop and strengthen human resources in its value. Objectives of the program that inculcate a positive social impact on the communities involved include: Creating awareness about opportunities of employment and livelihood in its value chain; Creating opportunities for involvement of women in the value chain as far as possible; Collaborate with NGOs to involve local marginalized communities in its value chain; and imparting knowledge to producers.

In the last decade Eco Tasar’s social program, in collaboration with PRADAN and other NGOs has made a definitive impact in the lives of thousands of village men and women, yarn makers, weavers. They are literally weaving a new tapestry of aspirations and hopes, for a better future.

Sustainable business and wage oppurtunities

As of 2015, Eco Tasar has already generated more than 2,000 jobs who have earned more than Euro 600,000 in 2015. In addition their operations have helped provide Euro 140 (average) additional income annually to about 1,000 tribal families. So, Eco Tasar has constantly strived to create sustainable income for the lowest level in the livelihood pyramid.

Mr. Khitish Pandya has been involved with PRADAN textile wing since 2000 and raised hope for many families. His motivation: "We wish to build and run a sustainable business which shall create wage opportunities for a large number of small, artisanal, rural and home based producers particularly women on a sustained basis so that they are able to leverage the constant flow of wages to lift themselves out of poverty."