Textile commissioner Mrs Kiran Soni Gupta inaugurated the three-day Techtextil India exhibition for the technical textiles and non-woven industry in Mumbai today.
Techtextil India, India’s largest exhibition for technical textiles and nonwovens, will be underway next week, from 24 - 26 September 2015. It is confirmed that the exhibition will be inaugurated by Mrs. Kiran Soni Gupta, IAS-Textile Commissioner, Ministry of Textiles, Government of India. Guest of Honor Mr. Michael Siebert Consul General of the Federal Republic of Germany in Mumbai will also be present at the inauguration.
The textile industry has been facing issues in getting subsidy under the Technology Upgradation Fund Scheme (TUFS). Some member-units had applied for subsidy under the scheme which is pending for the past one and a half years.
The Textile Upgradation Fund Scheme (TUFS) is an interest subsidy scheme aimed at upgrade of technology as part of measures to boost the textile and jute sectors.
The spinning mills of southern India is currently facing inevitable liquidity crunch caused by increasing yarn stock, poor offtake and long pending TUF subsidies. Southern India Mills’ Association (Sima) chairman T Rajkumar in his interactive meeting with Union textile commissioner Kiran Soni Gupta on Monday, urged Gupta to expedite the bail-out package to save thousands of small and medium units from becoming non-performing assets.
At a meeting organized on the TUFS by the Southern India Mills’ Association in Coimbatore on Monday, Textile Commissioner Kiran Soni Gupta said that the Ministry was looking at balanced growth of different segments of the textile and clothing sector and if there were modifications that were needed in the Technology Upgradation Fund Scheme (TUFS), the stakeholders should review the scheme and submit their suggestions. These could be taken up at the end of the XII Plan period.
