INDIAN GOVERNMENT SUPPORT WELCOMED AS WAY TO GROW TECHNICAL TEXTILE SECTOR
February 1st, 2016
THE INDIAN government’s decision to increase its available subsidies to help companies purchase new textile machinery from 10% to 15% will boost the investment in the country’s technical textile sector, which has been struggling to build big capacities.
Under the ‘Amended Technology Upgradation Fund Scheme (TUFS)’, from January 14 (2016), a producer of technical textiles can avail itself of up to USD4.5 million as capital investment subsidy. In the last 16 years, the government has spent USD3.18 billion on subsidies leveraging investments worth USD 40.5 ...
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