The correct answer is option 3: 7th August. National Handloom Day is observed in India on 7th August every year. It was first celebrated in 2015 to commemorate the Swadeshi Movement which began on 7th August 1905.

The Swadeshi Movement aimed to promote the use of locally made handloom and handicrafts products to reduce dependence on imported goods during the British colonial rule. The observance of National Handloom Day helps raise awareness about the importance of the handloom industry and its contribution to the country`s cultural heritage and economy.

Option 1: 7th June is not the correct answer. There is no significant national observance related to handlooms on this date.

Option 2: 17th July is not the correct answer. There is no significant national observance related to handlooms on this date.

Option 4: 17th September is not the correct answer. There is no significant national observance related to handlooms on this date.

Therefore, the correct answer is option 3: 7th August.