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

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

C Dhandayuthapani

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

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ashok Desai
Bombay Textile Research Association

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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