India’s textiles ministry is poised to restart its Technology Upgradation Fund (TUF) in the near future, including synthetic and technical textile manufacturers for the first time, according to reports.
The financial incentive scheme is offered through the country’s banks, but the government subsidises it by partly meeting the cost of interest on loans, as well as covering exchange rate movements and the cost of capital investment.
Small and medium-sized companies are eligible for the funding, but until now synthetic and technical textile manufacturers were not included.
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