Tide1, a UK-based financial platform, has signed a Memorandum of Understanding (MoU) with NEHHDC to digitize the handloom and handicraft sector in Northeast India. The partnership aims to improve scalability, financial inclusion, and market reach for nearly 2.1 million handloom weavers and 3.5 million artisans in 800 clusters.
Tide will support financial and digital inclusion for weavers and artisans in the region through mentor panels, masterclasses, and annual national-level SME events. The company also aims to build community networks and capabilities.The North East region in India, with 65% of handloom production and 88% women participation, will partner with Tide to enhance women in business and provide mentoring and knowledge sharing sessions.
The partnership aims to digitally transform businesses in Tier 2 and Tier 3 regions, enabling weavers and artisans to access comprehensive financial services, promoting their inclusion in the formal economy. Gurjodhpal Singh, CEO, Tide India, said, “We are proud to partner with NEHHDC and are confident that our initiative will not only help enhance financial inclusion for these businesses but also create newer avenues to increase business opportunities and boost Indian art and heritage.”