Tufs to see re-launch shortly

The government is likely to reintroduce the technology upgradation funds scheme (Tufs) for the textile sector.

"Prime Minister Narendra Modi evinced keen interest and talked about Tufs in the last Cabinet meeting. With his special interest in textiles sector, I can say Tufs will be re-launched very soon, say, in a few months," said Santosh Kumar Gangwar, minister of state for textiles. He was speaking on the sidelines of the Texprocil award function here on Friday.

Tufs was launched in early 1990s to boost investment into the textiles sector. Under the scheme, five per cent of the total investment for technology upgradation is compensated by the government.
 

The scheme was touted to be a great success, attracting massive investment and helping revive the textiles sector.

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

The minister assured the textiles industry all possible support in future.