SIMA appeals to new government to resolve TUF issues

The Southern India Mills Association, an apex body of spinners in this region, Tuesday appealed to the new Central government to resolve Technology Upgradation Fund issues to boost job creation and exports.

Resolving issues in the TUF Scheme and releasing the pending TUF subsidies to the tune of Rs

9,000 crore on a fast track basis would help the industry create jobs for lakhs of people immediately, SIMA Chairman P Nataraj said in a statement here.

This would also bring huge investments across the country thus creating jobs for millions of people and boost exports, he said.

Nataraj also said special export garment package and enhanced Rebate on State and Central Taxes and Levies benefits would yield the desired results only when the TUF issues were resolved.