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Centre plans to increase TUF up to Rs911cr

19
Mar '07
Sona College of Technology held a seminar on 'Current industrial trends in garment production'. E V K S Elangovan, the Union Minister of State for Textiles was present here.

According to the Minister, centre is planning to set up 100 textile parks nationwide, of which 20 will come up in Tamil Nadu during the current financial year.

The Government expects, textile sector by 2010, with an annual growth rate of 11 percent, from the current US $36 billion it may touch US $85 billion.

Government is eager to increase the potential of textile industry. So it will increase the TUF (Technology Upgradation Fund) from Rs536 crore in 2006-07 to Rs911 crore in the financial year 2007-08.

Elangovan also added that five textile projects at Perundurai, Cuddalore, Palladam, Kumarapalayam and another at Erode or Karur or Madurai would be set up under the Integrated Textile Parks Scheme.


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