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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

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