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Jute sector likely to get Rs 345cr funds under TUF
05 Aug '05
1 min read
In a move to achieve the export target of 25 percent growth in textile export, the Textile Ministry is increasingly supporting the textile sector, including jute industry.
The ministry is awaiting cabinets nod for Rs 345 crore fund allocation for jute from the Technology Upgradation Fund (TUF). About 25 textile parks will come up across the country within the next two years attracting an investment of around Rs 7,500 crore.
At a meeting with the BJNCCI members, Union Textile Secretary R Poornalingam informed that the ministry wants to jute output to rise in order to increase exports and hence, the Government has rolled out schemes to enhance capacities.
The government has selected IL&FS as a nodal agency to look after the textile parks, and would provide 40 percent subsidy for infrastructure development up to a maximum of Rs 40 crore, said Poornalingam.
The ministry is awaiting cabinets nod for Rs 345 crore fund allocation for jute from the Technology Upgradation Fund (TUF). About 25 textile parks will come up across the country within the next two years attracting an investment of around Rs 7,500 crore.
At a meeting with the BJNCCI members, Union Textile Secretary R Poornalingam informed that the ministry wants to jute output to rise in order to increase exports and hence, the Government has rolled out schemes to enhance capacities.
The government has selected IL&FS as a nodal agency to look after the textile parks, and would provide 40 percent subsidy for infrastructure development up to a maximum of Rs 40 crore, said Poornalingam.
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