Prime
minister Manmohan Singh has supported the continuation
of the technology upgradation fund scheme (TUFS) for the
textile sector beyond March 2007.
This
was disclosed by commerce and industry minister Kamal
Nath at the 48th annual general meeting of Northern India
Textile Mills Association.
TUFS
provides interest subsidy for modernisation and is slated
to expire in March 2007 and the industry has been pushing
for extension of the scheme in the 11th Five-year Plan
period.
Nath
said the governement had taken note of industry's need
TUF for modernisation and expansion. However, he said
that while extending the scheme it could be modified with.
The inputs provided
by the industry.
Nath
also said that the textile industry would be the major
beneficiary in all the preferential and free trade agreements
as five years down the line tariffs would not be an issue.
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