Union Minister for Commerce, Industry & Textiles, Mr. Anand Sharma today said that the central government is focussing on the development and modernization of power loom sector. He was addressing a press conference in Mumbai, after attending a newly constituted Power loom Board Meeting.

Mr. Sharma said as per the 12th five year plan the power loom sector has given 1000 crore financial aid under the Technology upgradation Fund Scheme (TUFS). He stated that under the scheme, 239 crore rupees has been already disbursed to 3212 units in the last fiscal year. Mr. Sharma also said under the TUFS the government has continued subsidy for second hand machinery with less than 10 years vintage.

Mr. Sharma informed that the textile ministry will soon be enhancing the subsidy rate for the power loom sector under the TUFS which is currently 20%.

Speaking about the modernization plans for the basic infrastructure of the power loom sector, the Union Minister said the 12th five year plan has continued support to cluster approach. He said that under the integrated Power loom cluster Development Programme in the 12th Five year plan 44 power loom service centers will be upgraded with the state of art technology and machinery for skill development. He said it will include creation of common facility centers; computer aided textile design development centers and modernized work sheds.