India Paper Industry to Get Government Modernization Subsidy
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India's pulp and paper industry will get a subsidy from India's government for the purchase of capital goods used to acquire and install modernization technology, according to a report this week by Press Trust of India, in New Delhi. "The government will soon extend the benefits of Technology Upgradation Fund (TUF) to the paper industry to fight the increasing incidence of technology obsolesce in the industry," Renu Sharma , joint secretary of the Department of Industrial Policy and Promotion (DIPP), said at a press conference. Benefits of the TUF scheme is likely to be unveiled for the paper industry in the next financial year. The Rs 16,000-crore Indian paper industry, which is investing in capacity expansion, pollution control measures, and environmental management plans, has been seeking a technology upgrade fund along the lines of the scheme available to the country's textile industry. In regard to the shortage of raw material faced by the pulp and paper industry, Sharma said the government was working on a proposal to help the segment.
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