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The Government of India had launched a Technology Up
gradation Fund Scheme for Textile & Jute Industries w.e.f. 1-4-99 for a
period of 5 years under which 5% interest incentive is given to the industry
for modernization and technology upgradation. I understand that the progress of
the scheme is rather moderate during the past 4 years and in order to widen the
scope as well as to make the scheme industry friendly, a large number of
relaxation / modifications have been made in the scheme based on the suggestions
from the industry and various associations. I am extremely glad to know that an
updated version of the booklet on the TUF Scheme is being brought out
containing all the amendments and modifications made in the scheme so far.
It is quite gratifying to note that
improved metal frame handlooms fitted with specified attachments and
various testing equipments used by the handloom weavers have been
made eligible for financing under the scheme thereby bringing
handloom sector also under the fold of TUFS. Further, handloom
sector is eligible for taking the benefits of TUFS for all machinery
already listed in the GR on TUFS as amended from time to time and
permitted for other sectors including powerloom, processing and mill
sector. A very large number of banks and financial institutions
.including co-op. banks and National Co-operative Development
Corporation (NCDC) have been co-opted for financing the various
segments of the textile / jute industry including units under
co-operative sector.
I expect more number of Textile and Jute industrial units
will make use of the scheme henceforth for modernization to enhance
its competitiveness domestically and globally, since the scheme has
been made more flexible and industry friendly. I wish the scheme and
the Textile & Jute industry all success.
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