Textile industry hails upgrade fund scheme extension | punjab | Hindustan Times
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Textile industry hails upgrade fund scheme extension

punjab Updated: Jun 23, 2012 13:21 IST
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Ludhiana textile industry, which is dealing with labour shortage, has hailed the decision of the Union textile ministry to extend the restructured technology upgrade fund scheme (RTUFS) for another year. The scheme was earlier slated to be operational from April 28, 2011, to March 31, 2012 and provides subsidy for upgrade of technology.


Darshan Dawer, president of Knitwear Club, said, "We welcome the textile ministry's decision, RTUFS help the textile industry a lot. However, at this point of time when the whole industry has been facing acute shortage of labour, technology upgrade is the only tool that can save us and this scheme will speed up the upgrade process and we were demanding for long to extend the scheme."

Earlier, small units of the industry used to install both power as well as manual machines, but now with the increasing labour shortage, people want more and more efficient machines that require less manual interference. To help industry get modernised fast, RTUFS was started.

"The scheme helped a lot in getting modern machines for our industry and its extension was needed. Now, the industry's focus will be on installing such machines that will reduce labour requirements up to manifolds. The scheme provides around 15% subsidy on machines," said Narinder Miglani, general secretary, Knitwear Club.

RTUF's extension has also put a smile on the faces of manufacturers of knitting machines and they believe that in a situation when the industry is struggling with labour shortage, it's the right time to modernise and RTUF's extension will help speed up modernisation. "It's the right time to modernise. We are really happy that TUF scheme has started again. With this scheme, our sales are expected to rise," said Gurdev Singh, MD Elex International.

"TUF scheme is available on local manufactured computerised machines also. Besides, these machines are more economical than ones imported from China. Some machines cost almost half as compared to their imported versions. The scheme will help both the textile industry as well as knitting machine manufacturers," said Krishan Mastana, director, Mastana Mechanical Works.