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FICCI proposes measures to boost textile sector

Related Keywords: allocation of funds, Arun Jaitley, discuss issue related to textile sector, FICCI panel, interest subvention for exporters, under Technology Upgradation Fund Scheme

The panel of FICCI Textiles Committee chaired by Shishir Jaipuria met the Finance Minister Arun Jaitley on Saturday to discuss issues related to the textiles sector and pitched increase in allocation of funds under Technology Upgradation Fund Scheme (TUFS) and interest subvention for exporters. FICCI through this meeting has tried to bring to the fore some important issues of pressing concern to the industry in front of the Government.

CITI sought additional allocation of funds under TUFS for spinning sector

Related Keywords: additional allocation of funds, CITI, Confederation of Indian Textile Industry, improve its competitiveness, spinning sector, Textile capital intensive industry, TUFS, under Technology Upgradation Fund Scheme, upgrade technology

The Confederation of Indian Textile Industry (CITI) on Friday sought additional allocation of around Rs.3,000 crore under the Technology Upgradation Fund Scheme (TUFS) stating unhealthy conditions faced by spinning sector.

The additional allocation will help clear the subsidy amount pending for earlier commitments from December 2014 to March 2015 under the TUFS scheme and also for new investments this year.

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