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SIMA welcomes Centre's move on TUFS

COIMBATORE: The Southern India Mills' Association has welcomed the move of the Union Ministry of Textiles to lift the suspension of sanction of fresh loans under the Technology Upgradation Fund Scheme with effect from July 21. In a release, the association Chairman, S. V. Arumugam, pleaded to the Centre to allot necessary funds on time for the scheme and also to include the same in the 11th Five Year Plan. He said this was needed to enable the Indian textile industry compete with its counterparts in countries such as China, Pakistan and Bangladesh.

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