TUFFS to be relaunched shortly

The government is likely to reintroduce the Technology Upgradation Funds Scheme (TUFFS), the most successful scheme to promote textile sector, in the next few months.

Speaking on the sidelines of the Texprocil award function here on Friday, Santosh Kumar Gangwar, Minister of State for Textiles, said: "The Prime Minister Narendra Modi evinced keen interest and talked about Tuffs in the last cabinet meeting chaired by him. He knows the significance of Tuffs. So, with his special interest in textiles sector, I can say Tuffs will be relaunched very soon, say in a few months."

Started to boost investment in textiles sector in early nineties, Tuffs is a scheme in which 5% of total investment for technology upgradation is compensated by the government.

The scheme was a great success, which attracted massive investment that helped revive textiles sector since its launch.

Tuffs is discontinued around two years ago due to the lack new initiatives by the government.

"You can call it a black period, which was the result of lack of initiatives of the previous government that was wrongly attributed to us. But we want to reintroduce it for the betterment of the textile industry," he said.

Also, the minister assured the textiles industry all possible support in future.