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Monday, Nov 22, 2004

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TUFS cell to help textile units' modernisation in Coimbatore

G. Gurumurthy

The cell would help investors planning updates of their projects by providing advice and clarification on the various procedures.

Coimbatore , Nov. 21

A SPECIAL facilitation cell on Technology Upgradation Fund Scheme (TUFS) has been created at the regional office of the Textile Commissioner, Coimbatore.

The cell will co-ordinate with lending/nodal agencies for the TUFS and textile entrepreneurs seeking funds for modernisation under the programme.

According to Mr D. Bandhopadhyay, Deputy Director in-charge of the regional Textile Commissioner's Office here, the cell would ensure proper information dissemination on TUFS-related investment proposals. It would also help entrepreneurs planning investment for modernisation of their projects by providing advice/clarification on the techno-economic norms.

The creation of a special cell was felt necessary in view of relaxations in the norms announced recently to encourage greater investment on modernisation of textile industries. The cell would make sure that the entrepreneurs, particularly those involved in the weaving and processing sectors are given timely advice and briefing on the changes in the norms.

Mr Bandhopadhyay told Business Line that his office, keen on augmenting the TUFS investments in the State's textile sector, expected the recent changes introduced for the spinning sector to fuel greater investment among the small-scale industries as well as the powerloom/knitting producers planning backward integration. The minimum economic size was reduced to 8,000 spindles from 12,000 spindles and the requirement of creating downstream value addition was scrapped for the spinning sector.

Similarly, the Ministry of Texiles' recent move to dispense with the minimum loom size of 165 cm for semi-automatic looms (with respect to investment on new looms) and 140 cm loom width in the case of existing plain looms (for in situ upgradation) stipulated for the TUFS eligibility under both the credit-linked capital subsidy as well as the 5 per cent interest reimbursement schemes is expected to whet the investment appetite of the decentralised powerloom weavers.

According to Mr Bhandopadhyaya, his office, which had been involved in holding awareness camps on TUFS for the benefit of the decentralised textile entrepreneurs in Tamil Nadu, Karnataka and Kerala coming under the Coimbatore regional office's jurisdiction, plans to organise some 30 more awareness programmes in the southern region before March.

More Stories on : Textiles | Tamil Nadu

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