The Hindu : Tamil Nadu News : Modification of TUF scheme in a week: Minister

Online edition of India's National Newspaper
Wednesday, Jun 27, 2007
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Tamil Nadu

Tamil Nadu

Modification of TUF scheme in a week: Minister

Staff Reporter

TIRUPUR: Union Minister of State for Textiles E.V.K.S. Elangovan on Tuesday said that modifications in the Technology Upgradation Fund Scheme (TUFS), which was extended in the Union Budget, would be made in a week.

Mr. Elangovan told reporters here that the Government was considering a lot of representations on TUFS from various segments of the textile industry. He denied that the scheme had been put on hold.

Mr. Elangovan said the Government was mulling over various suggestions of the industry on prioritising interest incentive and capital subsidy under TUFS. On the plight of garment exporters following the strengthening of rupee, he said the Government was very much aware of the problem.

He said the sudden fall of the US dollar vis-À-vis the rupee had put the exporting community into a lot of hardship.

He hoped that the Government would soon announce a relief package to mitigate the burden of the textile exporters.

The hi-tech powerloom weaving parks at Kumarapalayam, Madurai and Karur would be ready by a month, Mr. Elangovan said and added that the Palladam hi-tech weaving park would start full production in six months.

On the complaints of violation of labour laws in textile mills in the region, Mr. Elangovan said the Government would take action if any mill violated statutory laws.

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