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Thursday, Nov 11, 2004

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Sisspa seeks removal of spindle norm for TUFS

Our Bureau

Coimbatore , Nov. 10

THE South India Small Spinners Association (Sisspa) has suggested that the financial assistance for modernisation of textile industries under the technology upgradation fund scheme (TUFS) be extended without insisting on the minimum spindle norm.

If the modernisation of the industry, i.e., the spinning, weaving or knitting sectors, is to be achieved, the stipulation on the minimum spindle norm must be done away with, it stated.

Welcoming the recent Government move to bring down the minimum economic size (MES) in terms of the minimum number of spindles needed to be eligible for the financial assistance under TUFS, Sisspa said that it had been pleading with the Union Government for a long time to bring down the spindle-number-specific MES so that the operation of the modernisation fund scheme could be made more effective.

The Government had acted on this suggestion and had now brought down the MES from 12,000 spindles to 8,000 spindles. In order to make the fund available to the small-scale spinners, the minimum spindle norm can be removed completely, the association suggested.

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