Textile, finance ministries consulting on extending TUF
The Centre is seriously considering extending the Technology Upgradation Fund (TUF) scheme to the textile industry, so that the target of $50 billion export could be achieved by 2010.
By PTI |
COIMBATORE: The Centre is seriously considering extending the Technology Upgradation Fund (TUF) scheme to the textile industry, so that the target of $50 billion export could be achieved by 2010, Minister of State for Textiles, E V K S Elangovan said on Monday.
As the scheme would expire by March 2007, the ministry is in consultations with the finance ministry to extend it for the benefit of the industry, he told reporters here.
Asked whether the scheme would continue in its present form or there would be any change, Elangovan, here to inaugurate a seminar on technical textiles, said both the ministries would work out what was necessary for the industry, before finalising the extension.
The ministry wanted to achieve the export target by 2010, for which technological upgradation was a must, he said.
To a question on the possibility of providing any special package to technical textiles under the TUF scheme, he said being a growing sector with high potential in India, the ministry would take all efforts to promote technical textiles.
"We would consider everything, whatever necessary to boost this sector," textile commissioner, J N Singh, who was with the minister said.
As the scheme would expire by March 2007, the ministry is in consultations with the finance ministry to extend it for the benefit of the industry, he told reporters here.
Asked whether the scheme would continue in its present form or there would be any change, Elangovan, here to inaugurate a seminar on technical textiles, said both the ministries would work out what was necessary for the industry, before finalising the extension.
The ministry wanted to achieve the export target by 2010, for which technological upgradation was a must, he said.
To a question on the possibility of providing any special package to technical textiles under the TUF scheme, he said being a growing sector with high potential in India, the ministry would take all efforts to promote technical textiles.
"We would consider everything, whatever necessary to boost this sector," textile commissioner, J N Singh, who was with the minister said.
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