TUF Scheme for textile sector to be continued | SupportBiz

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TUF Scheme for textile sector to be continued

The Secretary of the Textiles Ministry, Kiran Dhingra, has announced the continuation of the Technology Upgradation Fund (TUF) Scheme, reports Fibre2fashion.com. Dhingra stated that the Textiles Ministry has proposed that the scheme be continued for the duration of the 12th Five-Year Plan, and that INR158.86 billion be allocated for the same.

She added that the scheme has not generated the expected results so far, and that it would have to be reconsidered if the performance is not good in the current year as well.

Dhingra also went on to state that the textile sector in India is in need of a financial lift, and assured industry workers of taking up the matter with the Finance Ministry.

She announced the Textiles Ministry’s intention to launch 21 integrated textile parks in India. This is in addition to the 40 textile parks for which budgetary allocation has already been done.

Source: Fibre2fashion.com