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Jewellery exporters seek Rs 6,000-cr tech upgrade fund for working capital

PNB scam, IL&FS default have dried up working capital loans for thousands of MSMEs, which are now struggling to stay afloat

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Currently, the government has allocated Rs 6,000 crore each for the textile and leather sectors. Interest rate subvention and similar reliefs are offered under TUFS.

Dilip Kumar Jha Mumbai

3 min read Last Updated : Oct 16 2019 | 11:09 AM IST

With raising working capital becoming increasingly difficult, jewellery exporters have urged the government to grant the sector Rs 6,000 crore under the Technology Upgradation Fund Scheme (TUFS), to save small businesses becoming extinct.

“We are planning to put forth a proposal to the Union Finance Minister Nirmala Sitharaman seeking to extend a TUFS for small business units. We have already discussed the same with the Finance Minister in our last meeting about a month ago. We hope it will be approved for gems and jewellery sector,” said Pramod Agrawal, Chairman, Gems and Jewellery Export Promotion Council (GJEPC) on the side-lines

Topics : Jewellery export growth Gems & jewellery export Jewellery exports Gold Prices

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