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Restructured TUFS may be extended for XII Plan period
12
Apr '12
The restructured Technology Upgradation Fund Scheme (TUFS) for the textile sector, which was implemented from April, 2011 till the end of March, 2012, is likely to be extended for the 12th Five Year Plan period.

The Union Ministry of Textiles has submitted a proposal to the Planning Commission for the extension of TUFS to the 12th Plan period, Panabaaka Lakshmi, Union Minister of State for Textiles, said during an event at the Man-made Textile Research Association (MANTRA) in Surat.

The Minister said she was hopeful that the scheme will be extended, although there was no mention of the same in the Union Budget 2012-13.

Industry analysts say Surat, which is home to the country's biggest man-made fibre industry, would greatly benefit if the TUFS is extended.

The city of Surat meets about 40 percent of the man-made fabric demand in the country. The city also has the largest number of powerloom machines in the country.

According to experts, TUFS has so far mostly benefited powerloom units and textile processing units, and an extension of the scheme would immensely benefit Surat's man-made fibre industry.

The scope of technology upgradation and installation of modern machines is still high in the textile sector, said Arun Jariwala, Chairman of Federation of Indian Art Silk Weaving Industry (FIASWI).

He added that latest technology is essential to be able to survive in modern times of escalation of prices and competition.

Fibre2fashion News Desk - India

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