Mood of textile industry is upbeat even though uncertainty carries on over the extension of Technical Upgradation Fund Scheme (TUFS).
Chairman of Confederation of Indian Textile Industry (CITI), Shekhar Agarwal said that they were confident that even if TUFS is abolished, textile industry will continue to march towards growth.
He revealed that even bankers have shown great confidence by assuring financial help for the projects even if TUFS is done away with. Executive Director of Export and Import Bank (EXIM), S R Rao informed that textile was the biggest portfolio in their kitty.
Agarwal said that even though some firms had gone to market by launching public issues to raise funds, there was no plan to repeat the same in the near future. The industry worth US $40 billion has seen growth of 23 percent and has set the target of $85 billion by 2010.
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