Centre to continue TUFS for textile industry
Updated: Jul 05, 2013 05:02:04pm
Bengaluru, Jul 5 (KNN) The Centre will continue the Technology Upgradation Fund Scheme (TUFS) for the textile industry, according to Union Minister of Textiles K Sambasiva Rao.
In a meeting with representatives of various textile industry associations and entrepreneurs such as garment manufacturers and others from exporters’ associations and integrated textile parks yesterday, Rao assured them that TUFS will be continued and necessary orders will be given to that effect soon.
Several issues concerning the textile industry including continuation of TUFS, cotton availability and prices, problems of silk powerloom weavers, setting up of yarn bank and common facility centres in powerloom clusters, problem of labour shortage were raised by the industry during the meeting.
In response, the Minister informed them that they were considering the need for yarn banks and common facility centres for powerloom clusters, the issue to be examined by the Ministry of Textiles on a priority basis.
With regard to shortage of trained workforce, Rao assured that said the matter would be addressed in consultation with the state government for providing entrepreneurs the necessary assistance for in-house training of manpower.
He commended the contribution of the garment industry of Karnataka for earning precious foreign exchange earnings and for providing employment to a large workforce, particularly social empowerment of women.
Rao requested the entrepreneurs of Karnataka to diversify into the manufacture of technical textiles which has huge potential for growth. He requested the industry to build brand equity for Indian textiles in the world market.
TUFS provides plan support for modernization of textiles industry in the form of interest reimbursement and capital subsidy. The sectors that have benefited under TUFS are spinning, weaving, processing, technical textiles, jute, silk, garment manufacture, cotton ginning, wool and powerlooms.
There is no state wise allocation of funds under TUFS.
The government according to the Minister has set a target of creating 10 million jobs in the textiles sector during the 12th Five Year Plan (2012-17). (KNN)
In a meeting with representatives of various textile industry associations and entrepreneurs such as garment manufacturers and others from exporters’ associations and integrated textile parks yesterday, Rao assured them that TUFS will be continued and necessary orders will be given to that effect soon.
Several issues concerning the textile industry including continuation of TUFS, cotton availability and prices, problems of silk powerloom weavers, setting up of yarn bank and common facility centres in powerloom clusters, problem of labour shortage were raised by the industry during the meeting.
In response, the Minister informed them that they were considering the need for yarn banks and common facility centres for powerloom clusters, the issue to be examined by the Ministry of Textiles on a priority basis.
With regard to shortage of trained workforce, Rao assured that said the matter would be addressed in consultation with the state government for providing entrepreneurs the necessary assistance for in-house training of manpower.
He commended the contribution of the garment industry of Karnataka for earning precious foreign exchange earnings and for providing employment to a large workforce, particularly social empowerment of women.
Rao requested the entrepreneurs of Karnataka to diversify into the manufacture of technical textiles which has huge potential for growth. He requested the industry to build brand equity for Indian textiles in the world market.
TUFS provides plan support for modernization of textiles industry in the form of interest reimbursement and capital subsidy. The sectors that have benefited under TUFS are spinning, weaving, processing, technical textiles, jute, silk, garment manufacture, cotton ginning, wool and powerlooms.
There is no state wise allocation of funds under TUFS.
The government according to the Minister has set a target of creating 10 million jobs in the textiles sector during the 12th Five Year Plan (2012-17). (KNN)
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