TIRUPUR: Extension of the widely expected Technology Upgradation Fund Scheme (TUFS) during the 11th Five Year Plan has brought cheer to the knitwear exporting community of Tirupur.
Citing increase in provision of fund to the scheme for 2007-08 to Rs. 911 crore against Rs. 535 crore in the current year, Tirupur Exporters' Association (TEA) on Wednesday said the garment sector was totally happy with this.
The extension of upgradation fund scheme would largely benefit the textile industry and modernisation of machinery would take place across the industry.
The increased allocation of fund from Rs. 189 crore in 2006-07 to Rs. 425 crore in the next year for the scheme for integrated textile parks would also boost the textile industry, TEA president A. Sakthivel said.