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Textile Minister gives nod for TUF subsidy till Sept '13

YarnsandFibers News Bureau 2014-01-24 13:30:00 – Coimbatore

Union Textile Minister, K Sambasiva Rao, gives clearance for the Technology Upgradation Fund subsidy (TUF) for the quarter ending September last.

Southern India Mills' Association thanked the minister for clearing the TUF and for constituting a committee for considering the pending cases of TUF, consequent to a meeting of a delegation from SIMA and Confederation of Indian Textile Industry, which will finalise the list in 10 days and process the issue, SIMA Chairman T Rajkumar said in a statement here.

According to SIMA, the mill owners would be happy over the TUF clearance, as the release of subsidy would take off the financial pressure of the mills and enable them purchase cotton during peak season.

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