A tripartite Memorandum of Understanding has been signed between the State Bank of India, Indira Gandhi Centre for the Arts, and National Culture Fund for Development of Atmanirbhar Bharat Centre for Design (ABCD) at L1 Barrack, Red Fort, Delhi.
This MOU could materialize after the NCF approached the State Bank of India to support the project, SBI has agreed to sponsor the project under CSR with a contribution of Rs. 10 crores for the implementation of the ABCD Project.
What is Atmanirbhar Bharat Centre of Design?
Atmanirbhar Bharat Centre of Design (ABCD), project aims to highlight, promote and celebrate the products that have the Geographical Indication sign, as it signifies a specific geographic origin infused with unique features of that region.
Through this initiative, Economic Value Addition to GI products is envisioned and can pave way for GI products from India towards a success story of Atmanirbhar Bharat.
This center will not only exemplify the rarest and unique crafts of India but will also provide a collaborative space between the karigars and the designers, to enable design interventions in sync with an exclusive and niche market for the artifacts produced at the Red Fort.
As India celebrates 75 years of India’s Independence this year, the Centre will create a rich legacy for future generations, embedded in centuries-old traditions.
The ABCD project is being implemented by IGNCA, an autonomous organization under the Ministry of Culture.
Ministry of Culture through National Culture Fund, a trust notified on 28th November 1996 under charitable Endowments Acts, 1890 has a primary mandate to nurture & establish partnerships in the field of heritage and mobilize resources for the restoration and protection of tangible and intangible heritage.
All contributions to NCF are given 100% tax exemption under Section 80G (2) of the Income Tax Act of 1961.
