‘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
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.