‘Upgra­da­tion fund aids pow­er­loom in­dus­try’

Lud­hi­ana be­ing an im­por­tant man­u­fac­tur­ing cen­tre will ben­e­fit with the ex­ten­sion of the pe­riod of the Tech­no­log­i­cal Upgra­da­tion Fund Scheme, says Dhruv Ag­gar­wal

HT Ludhiana Live - - City - HT Live Cor­re­spon­dent ludlivedesk@ hin­dus­tan­times. com

LUD­HI­ANA: Tech­no­log­i­cal Upgra­da­tion Fund ( TUF) Scheme in­tro­duced by the min­istry of tex­tiles in 1999 had been los­ing its va­lid­ity and it would be im­por­tant in the forth­com­ing bud­get, said Dhruv Ag­gar­wal, mem­ber, All In­dia Pow­er­loom Board.

The Cen­tre, through the sub­sidy, has been pro­vid­ing for tech­no­log­i­cal upgra­da­tion of the sec­tor through cap­i­tal sub­sidy, cov­er­age of ex­change rate ero­sion, in­ter­est sub­sidy and mar­gin money sub­sidy.

The scheme has been help­ful to the in­dus­try pan In­dia in the op­er­a­tions such as pre-loom, post- loom, equip­ments per­tain­ing to hand­loom upgra­da­tion, test­ing and qual­ity con­trol to pro­mote pro­duc­tion and ex­port.

Ag­gar­wal said dur­ing a press con­fer­ence at Satluj Club on Tues­day, "Lud­hi­ana be­ing an im­por­tant man­u­fac­tur­ing cen­tre will ben­e­fit with the ex­ten- sion of the pe­riod of the scheme and sub­sidy rate."

While dis­cussing the plans to im­prove the sec­tor, Ag­gar­wal said, "The in­dus­try is not sat­is­fied by the fa­cil­i­ties pro­vided at the Ni­tra Lab for Yarn and fab­ric test­ing. I have pro­posed for a new lab, which can be cre­ated in public-pri­vate part­ner­ship. The plan will be help­ful in in­creas­ing the qual­ity and au­then­tic­ity of the prod­ucts."

Ag­gar­wal also pro­posed a multi-crore project for the pow­er­loom sec­tor, which is be­ing con­sid­ered by the min­istry. "I have also in­vited the joint sec­re­tary of the min­istry to meet in­dus­tri­al­ists of the city," he said.

The joint sec­re­tary's visit, which has been sched­uled in the first week of March is an im­por­tant move to bridge the gap be­tween the in­dus­try and the gov­ern­ment.

He said the meet­ing would help the gov­ern­ment in un­der­stand­ing the is­sues faced by the in­dus­try and steps needed to be taken.


Dhruv Ag­gar­wal (first from right), mem­ber, All In­dia Pow­er­loom Board, dur­ing a press con­fer­ence at Satluj Club in Lud­hi­ana on Tues­day.

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