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Tamil Nadu: major beneficiary of TUFS extension

06
Mar '07
Extension of Technology Upgradation Fund Scheme will benefit Tamil Nadu the most as textile industry is going to execute projects costing at least Rs10,000 crore.

Till now, textile industry alone accounts for Rs12,000 crore of project worth Rs48,000 crore sanctioned by Center.

This extension is expected to generate more employment opportunity in addition to current 35 lakh workers engaged in textile sector.

It is anticipated that in next five years, number of employees will be double and two-third of them will be in garment sector.

TUFS was introduced by the Government to upgrade machineries in textile industry.

Out of total global trade, China accounts for 24.07 percent compared to India's share of 3.37 percent.

Although growth rate of textile industry is continuously increasing, competitiveness is affected due to various factors such as outdated machinery.


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