Home / Knowledge / News / Textiles / Textile Ministry to allocate Rs 36 bn under TUFS
Textile Ministry to allocate Rs 36 bn under TUFS
08
May '10
The textile industry that was affected by the global economic meltdown is likely to receive Rs 36 billion under the Technology Up-gradation Fund Scheme (TUFs), said the textile ministry.

This proposed amount will most likely be sufficient enough to settle the industry's earlier demands of funds from the scheme from the government as it will help them in their working capital requirements.

The government still holds a backlog of 2008-09 amounting to Rs 18.84 billion under the TUFS scheme that has yet not been reimbursed to the industry.

The committee has also urged for smoothening of the entire process of releasing funds under TUFS and other government subsidy schemes.

Due to the global economic meltdown, overseas sales of textiles, including apparels and silk, had fallen by 4.34 percent to US $14.07 billion during the first nine months of 2008-09, in contrast to the same period of the previous fiscal.

Fibre2Fashion News Desk - India

Must ReadView All

Rick Helfenbein (left), president and CEO of AAFA, with Juan Estrada, chief of party, Hub; Courtesy: Hub

Apparel/Garments | On 23rd Feb 2017

AAFA inks agreement for best manufacturing in East Africa

The American Apparel & Footwear Association (AAFA) has entered into a ...

Mango vice-chairman and member of the board of directors Daniel Lopez (L) with Ananth Narayanan, CEO, Myntra & Jabong. Courtesy: Myntra

Apparel/Garments | On 23rd Feb 2017

Mango awards distribution & management rights to Myntra

Mango, the Spanish fast fashion brand, has awarded its master...

Courtesy: IUCN

Apparel/Garments | On 23rd Feb 2017

Synthetic clothes should shed fewer fibres: IUCN report

Synthetic clothes should be designed in a manner that it will shed...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Larry L Kinn
Suominen Corporation

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search