The announcement of release of funds under the Textile Up-Gradation Fund Scheme (TUFS) has raised the sentiments of the textile sector in Surat, which had been struggling under the strain of recessionary trends, high raw material costs and many other reasons.
The release of TUFS funds will prove to be a booster and will result in new investments in to technological up-gradation of plant and machinery in the sector in the near future.
Last year the textile industry was on the verge of a virtual breakdown with the sword of closure hanging over nearly 200 fabric processing mills, but slowly and surely the situation is changing for the better.
Fibre2fashion News Desk - India
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