Shri. A.Sakthivel, President, TEA has welcomed the clearance of Technology Upgradation Fund (TUF) scheme by the Ministry (1.11.2007) and extension of 10% capital subsidy in addition to 5% interest reimbursement to garment sector.
Shri. A. Sakthivel said that much awaited Technology Upgradation Fund Scheme (TUFS) has been cleared at a time when the exporters are passing through a severe crisis due to appreciation of rupee against dollar and this will be helpful to the exporters who wish to go for the capacity addition / modernisation of machinery.
He has also sent thanks letter to Hon'ble Finance Minister Shri. P. Chidambaram and Hon'ble Textile Minister Shri Shankersinh Vaghela and requested that the extension of 10% Capital Subsidy in addition to 5% interest reimbursement to garment sector should be given with effect from 1.4.2007 as the retrospective effect would give some relief to the exporters who have been investing in the machinery with the anticipation of clearance of TUF Scheme from 1.4.2007.
Tirupur Exporters' Association
marketing@alchempro.com
