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Weaving industry hails extension of TUF

ERODE: On behalf of the Confederation of Weaving Industries, its Chairman, M. S. Mathivanan, welcomed the decision of the Union Government for approving the extension of Technology Upgradation Fund (TUF) scheme till March 2007 and also for enhancing the fund to provide incentive of 20 per cent of the cost of modern weaving machinery. He said in a statement that the TUF had been initiated by the Textile Ministry to upgrade the weaving technology, based on the recommendations given by the Planning Commission. — Our Staff Reporter

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