| Addressing a press conference, Sudripta Roy, joint secretary, Ministry of Textiles, said that considering the growing number of applications seeking the interest subsidy available under the TUFS, the ministry of textiles has submitted a proposal to the Union finance ministry seeking an additional grant of Rs 1,000 crore. |
| "Of the total Rs 535 crore allocated under TUFS this year, Rs 192 crore has been released. Around Rs 230 crore, which has been approved, is due for sanction in June 2006," Roy added. |
| Ruling out any possibility of the extension of TUFS, he said that a proposal had been made to the Planning Commission and the Ministry of commerce regarding the extension of TUFS. "But the final decision would be taken by the Cabinet," he said. |
| The scheme is due to close in March 2007. Tamil Nadu occupies the top slot in the list of the states that have availed most of the bankable funds under the TUFS route. |
| The textile industry in Coimbatore region alone has pumped in more than Rs 2,000 crore as new investments in the past two years or so. |
| This investment is based on the rough estimate of about one million new spindle equivalent capacity creation seen by the spinning and composite mills in the region, according to industry estimates. |
| Commenting on the response for the Scheme for Integrated Textile Parks (SITPs) that are due to close in 2008, Roy said that the proposals have exceeded the Union government's project of setting up 25 parks. "We have received applications for almost 52 parks, but we would be setting up only 25 parks," he said. |
| The amount has already been sanctioned for nine of the total 25 integrated parks. Seven proposals are under consideration. All the proposals for the 25 parks are likely to become finalised by the end of September 2006, he added. |
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