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Govt likely to reintroduce Tufs soon

YarnsandFibers News Bureau 2015-11-21 15:00:00 – Mumbai

Prime Minister Narendra Modi in the last Cabinet meeting evinced keen interest and talked about technology upgradation funds scheme (Tufs). Tufs was launched in early 1990s to boost investment into the textiles sector. Under the scheme, five percent of the total investment for technology upgradation is compensated by the government.

The Tufs scheme was touted to be a great success, attracting massive investment and helping revive the textiles sector was discontinued two years ago due to lack of initiatives of the previous government.

With the present Prime Minister showing special interest in textile sector , the government is likely to reintroduce the Tufs for the textile sector in a few months for the betterment and all possible support in future of the textile industry, said Santosh Kumar Gangwar, minister of state for textiles while speaking on the sidelines of the Texprocil award function here on Friday.

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