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 22nd Feb 2017

Bangladesh exporters want duty-free access to US, Brazil

Garment and apparel exporters of Bangladesh are seeking duty-free...

Textiles | On 22nd Feb 2017

India to produce 341 lakh bales cotton in 2016-17: CAI

The Cotton Association of India (CAI) has maintained in its January...

Textiles | On 22nd Feb 2017

'India to be self-sufficient in silk production by 2020'

Indian could be self-sufficient in silk production by the year 2020...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

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

Steve Cole
Xerium Technologies

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search