Though the ministry was not sure how the scheme would take off, the ministry hopes this would benefit small units, particularly in the powerloom sector, Textile Secretary Zohra Chatterjee told reporters here.
TUFS facilitates modernisation and upgradation of textiles industry by providing credit at reduced rates to entrepreneurs both in the organised and the unorganised sector in the textiles industry.
The powerloom sector with 43 lakh weavers is in dire need of modernisation and the scheme would benefit them as each machinery costs Rs 20-30 lakh, she said.
"It has been a smooth sail this far," she said.
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To another question on the much-awaited Free Trade Agreement with European Union, one of the major markets for the garment sector, she said: "It is crucial and we are keen to see it through. However, we have to wait for entire effort to fructify."
She also said an integrated framework for training (based on the need) has been formulated to address the trained manpower requirements of textiles and related segments.
Stating that funds were available for training, the official said setting up of Sector Skill Councils for Apparel and Textiles was yet another important initiative under skill development scheme.
"The first component is strengthening the capacity of institutions and schemes under the Ministry of Textiles; partnering with private sector; and thirdly looking to partner with state governments. The third component (partnering with State Government) was launched recently, and we have received a couple of projects from four state governments, including Tamil Nadu," she said.