Friday, Jan 07, 2005
Friday, Jan 07, 2005 |
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Advts: Classifieds | Employment | Tamil Nadu
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Coimbatore
By our Staff Reporter
COIMBATORE, JAN. 6. The Knitcloth Manufacturers' Association (Knitcma) has appealed to the Centre to increase the interest subsidy under the Technology Upgradation Fund Scheme (TUFS) for textile units. In a release, its president, Ahill S. Rathinasamy, said that the interest subsidy should be increased from five per cent to eight per cent. He said that it had become imperative for the textile industry to go for modernisation on a par with the international level so that the units could sustain the competition in the post quota period . Mr. Rathinasamy said that the increase would attract more entrepreneurs.Since the textile industry was labour intensive, it would lead to more employment opportunities. With regard to the industry, technology upgradation would improve production quality and enable the units to be price competitive. It would also result in supply of quality products in the domestic market. "If additional benefits are given under the scheme, it will strengthen the hands of the industry in the post quota regime."
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