Related Keywords: hire purchase scheme, Indian textile ministry, powerloom unit, Textile Industry, TUFS
TUFS facilitates modernisation and upgradation of textiles industry by providing credit at reduced rates to entrepreneurs both in the organised and the unorganised sector in the textiles industry. The Textile ministry to benefit small units in the powerloom sector will be introducing hire-purchase scheme under TUFS.
The Indian powerloom sector has around 43 lakh weavers who are in severe need of modernisation and the ministry is hopeful that this hire-purchase scheme will benefit them as each machinery costs Rs 20-30 lakh.
