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The Centre will soon come out with a modified Technology Upgradation Fund Scheme (TUFS) to help the textile industry catalyse investments in sectors that generate employment and exports.
“TUFS had earlier faced difficulties. We had appealed to the Prime Minister that the scheme should be continued in a more organised manner. Therefore, the Government is coming out with a modified TUFS scheme, which will be unveiled shortly,” Textile Minister Santosh Gangwar said at the State Textile Ministers’ conference on Wednesday.
TUFS was introduced in 1999 to attract investments in the textiles and jute sector by offering a 5 per cent interest reimbursement.
Gangwar asked State governments to expedite clearances required to set up textile parks, which are expected to create 4.5 lakh jobs with an investment of ₹30,000 crore. “I would like to point out that there are difficulties in getting environmental clearances in several states. I would urge the State governments to show interest on this issue and expedite much needed clearances,” Gangwar said.
A total of 72 textile parks have been sanctioned under the Scheme for Integrated Textile Parks till now.
“On textile parks, we need more cooperation from state governments. We find that in a number of cases, entrepreneurs are facing difficulties in getting land, in getting clearances and in getting electricity connection,” Textiles Secretary SK Panda said.
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