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Textile sector worried over delay in publicizing revised TUFS
08 Sep '10
1 min read
As the Central Government is taking long to announce the revised Technology Upgradation Fund Scheme (TUFS), it has raised the concern of the textile sector in the country.
Over the past two months, allocation of funds and subsidies for development of the textile industry have been put on hold, as the TUFS is being restructured, and this has brought the modernization process of the textile centres in the country to a standstill.
Previously, the Textile Ministry had declared that it would get the revised TUFS ready by first week of August. But as this has been delayed by over a month, it has raised the anxiety of the textile sector, which is already confronted with issues of rising prices of raw materials, gas and dyes and chemicals.
As divulged by experts, the Textile Ministry has already worked out the revised TUFS policy and the same has been forwarded to the Planning Commission.
Textile sector is now impatiently awaiting implementation of the revised TUFS. Unlike earlier, the Textile Ministry this time has included almost all of the key suggestions and demands of the textile industry in its draft code for revised TUFS.
Over the past two months, allocation of funds and subsidies for development of the textile industry have been put on hold, as the TUFS is being restructured, and this has brought the modernization process of the textile centres in the country to a standstill.
Previously, the Textile Ministry had declared that it would get the revised TUFS ready by first week of August. But as this has been delayed by over a month, it has raised the anxiety of the textile sector, which is already confronted with issues of rising prices of raw materials, gas and dyes and chemicals.
As divulged by experts, the Textile Ministry has already worked out the revised TUFS policy and the same has been forwarded to the Planning Commission.
Textile sector is now impatiently awaiting implementation of the revised TUFS. Unlike earlier, the Textile Ministry this time has included almost all of the key suggestions and demands of the textile industry in its draft code for revised TUFS.
Fibre2fashion News Desk - India
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