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TUFS boosts investment in textile sector

19
Jan '07
Textile Upgradation Fund Scheme (TUFS) has brought revolution in the growth of domestic industry. It has played pro-active and industry-friendly role that has facilitated textile industry becoming a Sunshine Industry.

Till sometime ago, accessing funds under the TUFS programme was perceived to be rigid by some section in the industry.

In past few financial years, a rapid increase in the growth of TUFS can be witnessed.

In 2003-2004, TUFS started to progress by receiving 867 application with total project cost of Rs3356 crore. Out of 884 applications sanctioned, 814 were disbursed with fund of Rs856 crore.

In 2004-2005, number of application received for TUFS stood at 986 and all of them were approved with total project cost of Rs7349 crore. But only 801 applications were disbursed with fund of Rs1757 crore.

During 2005-2006, a change in approved project cost and amount sanctioned can be seen. Although 1078 applications with project cost of Rs15032 crore were sanctioned, only 993 of them with cost of Rs3962 crore were disbursed.

These figures show a positive trend in the growth of TUFS, benefiting textile industry of the country.

As on September 30, 2006, textile units sent 5907 application with project cost of Rs52638 crore and availed Rs12673 crore TUFS loans.

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