International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Financial Inclusion: Evidence from India’s Handloom Industry

Author(s) Ms. Shreya Singh, Dr. Rajesh Pal
Country India
Abstract In India, the handloom sector, one of the most important rural-based industries, ranks second only to agriculture in terms of employment generation and household income, which grows with the formal institutionalization of financial needs. Consequently, financial inclusion, a critical issue for inclusive growth, becomes attainable. This study investigates how the expansion of the handloom sector affects financial inclusion in six Indian states. It employs a structural panel design with secondary sources of two census data sets, 2009-10 and 2019-20, which correlate to handloom growth characteristics and separate stages of financial inclusion, demonstrating a structural shift from a traditional to a modern framework. Handloom growth is measured through the compound annual growth rate (CAGR) approach, and financial inclusion indicators are adjusted with the min-max method before being combined to create a unified structural financial index. The research demonstrates that handloom expansion is negatively related to financial inclusion, whereas the literacy rate (control variable) shows positive results. The study suggests that sector- and state-specific policy development is necessary because system-wide growth policy and financial deepening regulations have failed to determine the interlink between traditional industries and credit oriented financial inclusion.
Keywords Handloom growth, financial inclusion, Credit-led, Direct benefit transfer (DBT).
Field Sociology > Banking / Finance
Published In Volume 8, Issue 3, May-June 2026
Published On 2026-06-18
DOI https://doi.org/10.36948/ijfmr.2026.v08i03.80632
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CrossRef DOI prefix of IJFMR is 10.36948/ijfmr

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