Indian Textile Secretary Ravi Kumar has assured power loom industry stakeholders that pending applications for Technology Upgradation Fund Scheme (TUFS) would be cleared within two months. About 6,000 applications from Surat are pending under the scheme for the last two years due to technical reasons. About RS. 800 cr is stuck under TUFS for long.
At a recent stakeholder meeting in Ahmedabad, Kumar met representatives of the Southern Gujarat Chamber of Commerce and Industry (SGCCI), Federation of Gujarat Weavers’ Association (FOGWA) and Federation of Indian Art Silk Weaving Industry (FIASWI), according to a report. The clearance of the subsidy amount will boost modernisation in the textile sector in Surat, said SGCCI President Ketan Desai.
Surat has lead over other clusters in Gujarat when it comes to taking benefits under TUFS scheme.