Home / Knowledge / News / Textiles / TEA hails release of a large amount of interest subsidy under TUFS
TEA hails release of a large amount of interest subsidy under TUFS
Aug '09
Thiru. Dayanidhi Maran, Minister of Textiles (06.08.2009) announced the release of interest subsidy of Rs.2,546 crore under the Technology Upgradation Fund Scheme (TUFS) and the amount will be credited to the bank accounts of beneficiaries in the record time of 72 hours (three working days). The Subsidy, with this release, will be cleared upto June 30, 2009.

Shri. A. Sakthivel appreciated the release of a large amount of TUF subsidy first time from the inception of TUF scheme and congratulated the Hon'ble Union Minister of Textiles Thiru. Dayanidhi Maran for his swift action in crediting the borrowers account within three working days.

Shri. Sakthivel also welcomed the constitution of forty one members Working Group under the Chairmanship of Secretary (Textiles) to formulate the National Fibre Policy. The Working Group has representatives from the Government, Trade and user Industry, and it will submit its recommendations within three months.

While commenting on the agenda of the working group, Shri. Sakthivel mentioned that the suggestion given by the group will be useful to promote the synthetic garment exports and added that as the global market is consuming more synthetic based garments, it would be a good opportunity for Tirupur knitwear exporters to increase their exports.

Tirupur Exporters' Association

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