TUFS withdrawals to affect textile exports: FIEO

New Delhi, July 12 (UNI) The withdrawal of the textiles upgradation fund scheme will hit exporters and prevent acievement of export target of 15 billion dollars by 2010, said Federation of Indian Export Organisations (FIEO) President O P Garg.

''The timing of the decision is bad as after the withdrawal of quantitative restriction on export of textiles by EU and US, India is on the brink of major opportunity for increasing it's market presence. The textiles upgradation fund has provided the impetus for new investment in textiles sector which is much needed in view of increasing competition from China,'' said Mr Garg.

He urged the government to restore the scheme till the eleventh plan period to give fillip to the industry for investment in the textiles sector.

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