Hike in TUF still insufficient'

Chennai: Mr Manikam Ramaswami, Chairman, Loyal Textile Mills Ltd, said that though there has been an enhancement of the Textile Upgradation Fund (TUF) by Rs 100 crore, the amount is still insufficient. The industry, which has been in an expansion mode, had fully utilised TUF by November last year, he said.

He expressed disappointment that there was no announcement on the extension of the validity period of TUF.