Confederation of Indian Textile Industry (CITI) has welcomed the approval of the Cabinet Committee on Economic Affairs to the modified Technology Upgradation Fund Scheme (TUFS) for implementation during the 11th Five Year Plan period. In a statement issued in New Delhi, Mr P. D. Patodia, Chairman, CITI thanked the Government and the Ministry of Textiles for incorporating certain positive changes in the modified Scheme. "The upfront capital subsidy of 10% extended to the apparel and technical textile segments, in addition to 5% interest reimbursement, will encourage these potential and important segments of the industry to establish large production facilities in order to achieve economies of scale", Mr. P.D.
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