New Textile Technology Reform Policy Is Being Formulated.

　　 India Spinning mills, ginning plants and weaving mills hope that the government will soon announce the new technology renewal fund policy (TUF).

Once the revised policy is promulgated, spinning, ginning and textile enterprises will be able to get financial assistance from the Ministry of Finance in accordance with TUF to help factories upgrade technology.

The central government may soon announce the revised TUF policy to provide financial assistance to more textile mills and allow exports. cotton Clothing is allowed to be imported. If weaving and textile enterprises are established, there is no need for imported garments.

Andhra Pradesh Spin The representatives of the factory Association met with Panabaka Lakshmi, Minister of state textiles, and asked her to actively promote the revision of TUF. She promised to discuss the problem with the government and take steps to revise TUF. The central government plans to announce the new TUF policy in September 10th, and the new policy will benefit more spinning factories.

Federal textiles minister Dayanidhi Maran has made recommendations to the Ministry of Finance on the new TUF policy. At present, the central government will provide 4% incentive funds for spinning, ginning and weaving enterprises to help them upgrade their running capacity. According to the new policy, the association of spinning factories of the Laba state expects that the existing 24000 spindles of the spinning mill will receive 5% incentive funds.

At least 100 textile mills and ginning factories are expected to benefit from the new policy. If the technology of spinning and ginning mills is updated, the yarn quality will be improved, but because of the recession, no new spinning plant has been established. Once the government announces revision of the policy, entrepreneurs will embark on the establishment of new spinning mills and ginning plants.