Home / Knowledge / News / Apparel/Garments / SIMA hails ATUFS guidelines
SIMA hails ATUFS guidelines
07
Mar '16
The Southern India Mills' Association (SIMA) has welcomed the various salient features of Amended Technology Upgradation Fund Scheme (TUFS) extending 15 per cent capital subsidy subject to a maximum of Rs 30 crores for garmenting, technical textiles and composite units with garmenting or technical textiles and also 10 per cent capital subsidy for all the weaving and processing machines subject to maximum of Rs 20 crores.

Earlier this week, the Textiles ministry issued the guidelines of the Amended Technology Upgradation Fund Scheme's (ATUFS) financial and operational parameters and implementation mechanism for implementation period from January 13, 2016 to December 31, 2022.

In a press release, SIMA Chairman M. Senthilkumar thanked the Textiles Ministry of Textiles for considering the various suggestions given by the Association in framing the guidelines for the ATUFS. He said the scheme would provide credit linked capital investment subsidy and facilitate augmenting of investment, productivity, quality, employment, exports along with import substitution in the textile industry.

He also said that the Ministry of Textiles has developed an industry-friendly software viz., i-ATUFS which would facilitate the beneficiary to have transparency and tracking facility. Senthilkumar added that this software would come as a complete solution for the various problems encountered by the lending agencies, the Ministry and the beneficiaries.

He also thanked Textiles Minister Santosh Gangwar for considering the plea of the Association and giving an opportunity for all the applicants, who are waiting for allocation of UIDs since September 2014 be eligible under RR-TUFS, the release said. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Judy Frater
Somaiya Kala Vidya

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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