MTUF scheme to be announced shortly

Coimbatore, Aug 13 (UNI) The Modified Technology Upgradation Fund (MTUF) scheme for the textile industry is expected to be announced soon after it has been approved by Cabinet Committee on Economic Affairs, Textile Commissioner J N Singh said today.

Addressing a press conference here, he said the modified TUF scheme will focus on the sectors which need a push. The 'Tex Summit 2007', to be held on August 31 and September 1 at New Delhi, was the first major initiative by the Centre to bring together all stake holders of the industry to deliberate areas of concern for the textile sector and boost productivity and export.

The Prime Minister who would be participating in the conference was expected to announce major policy guidelines for the textiles sector, which would benefit the industry in the long run. He said several Chief Ministers, besides secretaries of state governments dealing with textiles were also likely to participate in the two-day meet.

Replying to a query, Mr Singh said the ministry would hold a separate meeting with trade unions to sort out some of the issues demanded by the industry. However, this forthcoming Summit was expected to focus on labour issue, skill upgradation of labours and taxation at state level which were the issues needed Prime Minister's attention.

The textiles sector grew at a unprecented phase for the past couple of years. But during the last four months, some despondancy had set in due to rupee appreciation against US dollars, he said while answering a question.

About five million workers were required in textile sector, he added.

UNI