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New Delhi, Nov. 6

The Textiles Minister, Mr Dayanidhi Maran, said his Ministry disbursed Rs 66,275 crore under the Technology Upgradation Funds Scheme from the inception of the scheme on April 1, 1999, till June 30, 2009. He said TUFS has stimulated additional investments of Rs 1,79,834 crore; benefited 25,809 textiles units, including 18,266 small scale units. The scheme had enabled the textiles industry to successfully face challenges of global competition; reduced the cost of capital for acquisition of the latest technology by 5 per cent, ignited growth of processing, garmenting and technical textiles sectors by extending 10 per cent capital subsidy; assisted the powerloom units by extending 20 per cent margin money subsidy and empowered the small scale sector with 15 per cent capital subsidy. “The entire textiles value chain from cotton ginning and pressing till the clothing/made-up stage has availed itself of benefit under TUFS and the composite upgradation, spinning, processing and weaving segments of textiles chain are the major beneficiaries of TUFS,” Mr Maran said.

– Our Bureau

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