Home / Knowledge / News / Textiles / Restructured TUFS may be extended for XII Plan period
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


Must ReadView All

Sanjay K Jain, managing director, TT Ltd

Textiles | On 21st Sep 2017

TT’s Sanjay Jain elected new chairman of CITI

The Confederation of Indian Textile Industry (CITI), the apex body...

Textiles | On 21st Sep 2017

NRF urges US lawmakers to lower corporate tax rates

The National Retail Federation (NRF) has written to the US Senate...

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search