Home / Knowledge / News / Textiles / Amended TUFS to benefit at large
Amended TUFS to benefit at large
05
Jul '11
Indian Government has restructured the Technology Upgradation Fund Scheme (TUFS) – the flagship scheme of the Union Ministry of Textiles of India for up gradation of technology in the textile and jute sectors.

With an aim to promote better understanding and educate beneficiaries on Restructured TUFS, Regional Textile Commissioner (Ahmedabad), hand in gloves with Southern Gujarat Chamber of Commerce & Industry (SGCCI) has devised a Roadshow recently in SGCCI office at textile hub of India- Surat.

Amidst attendance of around 200 industry people from textile and allied sector including presence of Fibre2fashion as event covering and invited web-media, Mr Arun Jariwala (Chairman, Surat Art Silk Cloth Manufacturers Association) addressed the invitees, where in, he appreciated on the vital role that Surat has always played in earnings from textile and clothing industry for the nation. He wordified a flashback on the early hurdles that small and medium enterprises (SMES) faced availing TUFS benefits when it was newly introduced.

He further detailed amendments gradually made towards better functionality and proliferated benefits of the scheme across SMEs to MNCs.

He expressed that keeping in view all the previous aspects linking to deterrents to TUFS' fullest advantages to the industry, as well as the previous experience pertaining to working regulations and norms so far, government has restructured the scheme on its financial, operational parameters and implementation mechanism.

Following Mr Jariwalas' orientation to Restructured TUFS, Mr Dhaval Parikh (GM, DIC-Surat, Govt of India) delivered the presentation providing an overview of various provisions of Loans under the TUFS. Thereon, Mr Ashok Hazra, Deputy Director Incharge, Regional office of Textile Commissioner-Ahmedabad presented about various schemes offered by government for development of textile-clothing sector. Dr Ajoy Bhattacharya, from SGCCI was the convener of the show.

Mrs Shashi Singh, Jt. Textile Commissioner, delivered the keynote address on the Restructured TUFS with tenure 28.04.2011 to 31.03.2012 (both the days inclusive) with an overall subsidy cap of Rs 1972 crore during the period.

As announced by Mrs Singh, the Government Resolution lays down the financial and operational parameters and implementation mechanism for the Restructured TUFS which can be read here.

Answering one of the points raised by Fibre2fashion News team on behalf of its valued visitors from industry, during Question & Answer session, on exclusion of Airjet looms with CAM from the TUFS beneficiary category, Jt Textile Commissioner Mrs Sashi Singh replied-“This point is important and many others have also voiced the same concern. So it would be reviewed by Textile Monitoring Committee during meet on 12th or 14th of July. I would request the industry to submit their suggestions to TMC with supporting reasons.”

The Show winded up with the redressal to grievances from industry, followed by a note of thanks to guests by Mr Bhattacharya, and thereafter a cordial lunch arranged by SGCCI.

Fibre2fashion News Desk - India


Must ReadView All

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

JD.com to invest $3.1 bn to revive industry in NE China

Apparel/Garments | On 22nd Jan 2018

JD.com to invest $3.1 bn to revive industry in NE China

To back the government’s campaign to revitalize the traditional...

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Pinkesh Jain
Everflow Petrofils Ltd

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

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

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...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Karan Arora
Karan Arora

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

Rupa Sood and Sharan Apparao
Nayaab

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

January 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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
8.2%
Skip
9.3%

Total Votes: 97


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