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Cabinet approves ‘Amended TUFS’ for Indian textile industry

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi has approved the introduction of ‘Amended Technology Upgradation Fund Scheme (ATUFS)’ in place of the existing Revised Restructured Technology Upgradation Fund Scheme (RR-TUFS), for technology upgradation of the textiles industry.

The new scheme specifically targets employment generation and export by encouraging apparel and garment industry, which will provide employment to women in particular and increase India’s share in global exports, promotion of technical textiles for export and employment, promoting conversion of existing looms to better technology looms for improvement in quality and productivity, encouraging better quality in processing industry and checking need for import of fabrics by the garment sector.

The amended scheme is expected to boost ‘Make in India’ initiative in the textiles sector and attract investment to the tune of one lakh crore rupees, and create over 30 lakh jobs. A budget provision of Rs17,822 crores has been approved, of which Rs 12,671 crores is for committed liabilities under the ongoing scheme, and Rs 5,151 crores for new cases under ATUFS.

All cases pending with the Office of Textile Commissioner which are complete in all respects, shall be provided assistance under the ongoing scheme and the new scheme will be given prospective effect. Office of Textile Commissioner (TXC) is being reorganised; its offices shall be set up in each state. Officers of the TXC shall be closely associated with entrepreneurs for setting up the industry, including processing proposals under the new scheme, verifying assets created jointly with the bankers and maintaining close liaison with the State Government agencies.

The implementation of the scheme would be executed and monitored online under iTUFS, launched in April, 2015. Under the new scheme, there will be two broad categories: apparel, garment and technical textiles, where 15 per cent subsidy would be provided on capital investment, subject to a ceiling of 30 crores rupees for entrepreneurs over a period of five years, and remaining sub-sectors would be eligible for subsidy at a rate of 10 per cent, subject to a ceiling of Rs 20 crores.

Texmin.nic.in

 
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