Srinagar, Aug 5 (IANS): The Lieutenant Governor of Jammu and Kashmir, Manoj Sinha, on Thursday inaugurated the modernised and upgraded Government Silk Weaving Factory at Rajbagh in Srinagar, marking an important step towards the revival and holistic development of the silk industry in the Union Territory.

The Government Silk Weaving Factory was established in 1937 and has been in operation since then. Over a period of time, most of the machinery had become obsolete and the factory's infrastructure suffered huge damages in the floods of 2014.

As part of the revival plan, the century-old factory has been upgraded and modernised at a cost of Rs 23.54 crore under the World Bank-funded Jhelum Tawi Flood Recovery Project.

Under the upgradation plan, a new factory with state-of-the-art preparatory and weaving machinery has been installed.

Speaking on the occasion, Sinha said that the government will begin the branding of Kashmir silk to provide it an international market.

"We will soon launch Rajbagh Silk as a new brand for Kashmir silk. Moreover, the tourism department will work in tandem with the department of industries and commerce to ensure ease of access to the Kashmir silk market for our tourists," he said.

The revival plan of Jammu Kashmir Industries Limited (JKI) is being implemented focusing on making the organisation a profitable and viable entity, besides providing livelihood support to the marginalised sections of the society, especially those associated with cocoon rearing and production of wool, the L-G said.

The revamped Government Silk Factory would provide a cocoon consumption market to approximately 50,000 cocoon growers/farmers in the Kashmir Division.

The factory is now capable of producing 4,50,000 metre of silk fabric per annum, creating a viable economic cycle and employment opportunities, both directly and indirectly.