Home / Knowledge / News / Textiles / Govt may commit additional funds for TUFs
Govt may commit additional funds for TUFs
Jan '11
The Cabinet Committee on Economic Affairs (CCEA)'s recent move of considering a proposal to raise the fund allocation for up gradation of the textile sector under the XI five-year plan (2007-12) to Rs 150 billion has met severe criticism.

Previously, the government had allocated Rs 80 billion for modernization of the industry, but as the sum was used up by June 2010, the government directed the banks not to approve any fresh sanctions under the Technology Upgradation Fund Scheme (TUFS), till the Cabinet Committee on Economic Affairs (CCEA) approves further allocation of funds.

The additional sums that may be allocated for the TUFS would be disbursed to the commitments worth Rs 54.32 billion that were already made in the past, while Rs 19.72 billion would be utilized to fund the new ventures coming up during the remaining term of the XI plan.

The Textile Ministry however specified that, the sanction of additional funds for new ventures under the TUFS won't be unrestricted and would be subjected to an upper ceiling of Rs 19.72 billion.

Since initiation of the TUFS in 1999, banks and financial institutions have funded loans worth Rs 731.68 billion. The government, with an intention to support up gradation of the textile firms in the country, subsidizes five percent of the interests on the loans disbursed under the scheme.

According to the Ministry, spinning, weaving, cotton ginning, pressing and garment are some of the sectors which have gained the most from the scheme.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd Jun 2017

Zund unveils cradle feeder roll-feed system for fabrics

Zund Systemtechnik AG, Switzerland’s textile machinery firm that...

Textiles | On 22nd Jun 2017

Hpfabrics opening production facility in Forsyth County

Hpfabrics, manufacturer of raw fabrics, is opening a new production...

Courtesy: Napapijri

Apparel/Garments | On 22nd Jun 2017

Napapijri's Superlight Parka is free of fur and down

Napapijri has introduced the new Superlight Parka, a new lightweight...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
June 2017

June 2017

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


Browse Our Archives


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