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Access To Technology Made Easier For Paper Industry
SME paper manufacturers in India, who so far have been unable to get access to modern
technology and advanced equipments, will soon be able to do so with the Central governments plan to bail out the paper industry with subsidy.According to officials in the Department of Industrial Policy and Promotion (DIPP), the Central government is expected to introduce the subsidy programme for technological upgradation of the sector in the next financial year. Extension of financial support would enable small-scale paper units to make investments on the purchase of capital goods and machineries and enhance their efficiency and product quality to beat competitors at the global platform.
Benefits of TUFS for paper industry
The recently proposed Technology Upgradation Fund Scheme (TUFS) for the paper industry is expected to help paper manufacturers spend on modern technologies, which they otherwise cannot afford owing to the huge cost involved in acquiring them. Adoption of technology by the Indian paper industry will also get a major boost with the extension of the subsidy scheme.
With the help of modern and efficiency-raising equipments, SME paper makers can roll out high-graded, superior quality paper products and compete with 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 units to conserve energy, cut down on power consumption and save money, apart from helping them to manufacture superior products, said Basant Seksaria, spokesperson of Samrat Traders, a small-sized paper supplying agency in Kolkata.
SME paper manufacturers can expect to record better profits and clock higher growth results from the next financial year, when the proposed subsidy scheme will come into effect.
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