"This programme of Myntra is committed towards growing the handloom sector by offering necessary assistance to the weavers and garnering maximum support from the likeminded brands for the cause," said the Chief Executive Officer of Myntra and Jabong Ananth Narayanan.

As part of the initiative, the fashion retailer will unveil a new handloom brand, 'The Tech Threads', at its upcoming annual brand summit on November 2 in Bengaluru, the statement said.

The brand, which is to be unveiled by the Union Minister for Textiles Smriti Irani, aims to work towards reviving Indian crafts.

"The new brand will showcase crafts such as Chettinad, Uppada Jamdani Kuppalam, Mangalagiri, Venkatagiri (kinds of weaves from different regions of South India) among others," it said.

So far, 49 fashion brands associated with Myntra like W, Biba, Peter England, Chennai Silks among others have agreed to be a part of the initiative, according to the company.

Myntra is also working directly with the weavers from Kamatagi, a village in Bagalkot district of Karnataka.

Fashion portals Myntra and Jabong, owned by Flipkart, India's largest online retailer, are two of the leading online fashion retailers in the country.