: New tech upgradation fund scheme for textile sector on cards #FinanceIndia #StockMarketNEWS New tech upgradation fund scheme for textile sector on cards Mumbai, Apr 10 (KNN) Darshana Jardosh, Union

@StockMarketNEWS Mon 10 Apr, 2023

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New tech upgradation fund scheme for textile sector on cards #FinanceIndia #StockMarketNEWS
New tech upgradation fund scheme for textile sector on cards Mumbai, Apr 10 (KNN) Darshana Jardosh, Union Minister of State (MoS) for Textiles said that a new programme will replace the Technological Upgradation Fund (TUF) programme for the textile industry.

After careful review the government has decided to replace the programme, she informed last week.

Speaking at the GCCI Textile Leadership Colloquium, she requested that the sector choose a date for the beginning of the new programme after pointing out that there were approximately 1,500 cases still outstanding relating to the previous TUF scheme.

The MoS spoke with 76 associations of the textile industry and stated that the government is taking steps to increase cotton yield. She added that the PM MITRA parks will assist India in becoming a global leader in the textile sector.

In a presentation to the minister, GCCI asked for the new TUF plan to be implemented retroactively as of April 2022.

The previous TUF programme will end in March 2022. Additionally, it requested government assistance in resolving ongoing TUF cases because of ‘minor and trivial difficulties’. (KNN Bureau)

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