Home / Knowledge / News / Apparel/Garments / ATUFS brings relief to textile sector: CMAI
ATUFS brings relief to textile sector: CMAI
02
Jan '16
The Clothing Manufacturers Association of India (CMAI) has welcomed the Amended Technology Upgradation Fund Scheme (ATUFS) which was cleared by the Cabinet Committee on Economic Affairs on December 30, 2015.

In a Press Release, Shri Rahul Mehta, President, CMAI stated said the launching of the upgraded scheme in place of the present Revised Restructured TUFS (RR-TUFS) is a relief to the entire textile sector, especially because the RR-TUFS was in a limbo and no Unique ID, which is the formal sanction under the scheme, had been issued after September 2014.

Allocating nearly Rs.13,000 crore for clearing the Committed Liabilities will help in clearing the backlog pending for Issuance of UIDs and also the large number of so called 'left out cases' that have been pending for a decision for nearly 4 years, Mehta said.

Allocation of over Rs.5,000 crore for new projects will encourage fresh investments, both for modernising as well as scaling up existing production facilities and for green field investments.

Mehta thanked the Government for the extra focus provided to the highly labour intensive apparel segment and the technical textiles sector by stipulating a higher capital assistance of 15 per cent for them as against 10 per cent available to the other segments.

He pointed out that the apparel industry was not very capital Intensive, but given the sub-scale operation of production facilities in this segment in the country and the need to achieve economies of scale for competing with large units in countries like China, Bangladesh and Vietnam, the higher assistance to the apparel segment will prove to be highly beneficial in pushing up both employment and exports in the textiles sector.

Another textile industry body, the Apparel Export Promotion Council (AEPC) has also hailed the amended TUFS.

In a press release, AEPC Chairman Virender Uppal thanked the Government for amending the scheme.

“It will provide the much needed thrust for the expansion and growth,” he said. (SH)

Fibre2Fashion News Desk - India


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Top executives
Textile industry, India

The event should be organised every year

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search