Related Keywords: betterment of textile sector, boost investment into textile sector, compensated by the government, Government to reintroduce TUFS, Minister of state for textiles, Santosh Kumar Gangwar, Technology upgradation funds scheme, Texprocil
Prime Minister Narendra Modi in the last Cabinet meeting evinced keen interest and talked about technology upgradation funds scheme (Tufs). Tufs was launched in early 1990s to boost investment into the textiles sector. Under the scheme, five percent of the total investment for technology upgradation is compensated by the government.
The Tufs scheme was touted to be a great success, attracting massive investment and helping revive the textiles sector was discontinued two years ago due to lack of initiatives of the previous government.
