Published On:June 30 2014
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Budget 2014: Cotton textile industry has potential to invest upto Rs. 4,000 crore.

The cotton textile industry has a potential to invest up to Rs. 4,000 crore leading to generation of 50,000 new jobs if the government accepts the sector's demands in the forthcoming Budget, a top industry official has said.

'We have urged the government that Technology Upgradation Fund Scheme (TUFS) should be extended during the blackout period from June 29, 2010 to April 27, 2011, when the scheme was suspended to all cases which have been left out for no fault of the industry,' Cotton Textiles Export Promotion Council of India (Texprocil) Deputy Chairman R K Dalmia told PTI here.

Dalmia urged Textile Minister Santosh Kumar Gangwar to restore the benefit as investments made during the 18 month gap are eligible investments before and after extension of the TUFS.

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