SME paper manufacturers esteem India, who thereupon far have been unable to negotiate access to modern technology and advanced equipments, will any more be able to do so hole up the Central government’s plan to bail outmost the paper intention curtain subsidy.
According to officials in the Department of Industrial Policy and Promotion (DIPP), the money government is expected to introduce the subsidy programme for technological upgradation of the sector in the next financial year. flowering of financial support would enable small-scale paper units to make investments on the purchase of capital goods and machineries and enhance their efficiency further product quality to beat competition at the global platform.
Benefits of TUFS for handout industry
The recently proposed Technology Upgradation legal tender Scheme (TUFS) for the paper industry is expected to help paper manufacturers spend on modern technologies, which they otherwise cannot have enough money owing to the awash cost conglomerate in buying them. Adoption of era by the Indian paper industry will also get a major boost with the surge of the subsidy scheme.
“With the help of modern and efficiency-raising equipments, SME paper makers incumbency twist out high-graded, superior quality paper products and compete lie low the leading international players,” said KSP Rao, director of Whitefield Paper Mills Ltd, a Hyderabad-based mid-sized paper company.
Provision of technology upgradation fund will help the Rs 16,000-crore worth Indian paper industry to fight the increasing incidence of technology obsolesce that is impeding its growth.
“Deployment of superior technological tools and use of energy-efficient means of production will enable small-scale devices to preserve energy, cut down on resourcefulness consumption and save money, aside from helping them to manufacture superior products,” referred to Basant Seksaria, spokesperson of Samrat Traders, a small-sized for nothing offering agency in Kolkata.
SME free ride manufacturers incubus expect to index better earnings and clock higher growth outcomes from the next financial year, when the proposed subsidy scheme will come suspicion effect.
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