Home / Knowledge / News / Textiles / SIMA thanks Textiles Minister for releasing TUFS subsidy
SIMA thanks Textiles Minister for releasing TUFS subsidy
23
Jan '14
Technology Upgradation Fund Scheme (TUFS) is a blue chip programme of the Ministry of Textiles launched with effect from 1st April 1999 and attracted over Rs.2.5 lakh crores investments for capacity expansion and modernization across the value chain of the textile industry. 

The scheme has made the Indian cotton textile industry competitive in the international market particularly, the spinning sector has become most efficient and cost effective in the international market.  During the last few years there has been lot of issues relating to TUF scheme making many textile mills await for claiming their subsidy. 

The Southern India Mills’ Association (SIMA) and Confederation of Indian Textile Industry (CITI) have been constantly representing to the Central Government to address various issues relating to TUFS. 

The Hon’ble Union Textile Minister has cleared the TUF subsidy for the quarter ending September 2013 and also constituted a Committee for considering the pending cases of TUFS consequent to the meeting a high level delegation from SIMA consisting of SIMA Chairman, Mr.T.Rajkumar, Deputy Chairman, Mr.M.Senthilkumar, Past Chairman of SIMA & CITI, Mr.S.V.Arumugam, SIMA Committee Member Mr.Ashwin Chandran and SIMA Secretary General, Dr K Selvaraju.

Mr.T.Rajkumar, Chairman, SIMA has thanked the Hon’ble Union Textile Minister for taking proactive measures to address the various TUFS issues which have been pending for the last few years. 

SIMA Chairman has thanked the Hon’ble Minister for releasing the TUF subsidy for the quarter ending September 2013 in spite of funds constraints.  He has stated that the subsidy would ease the financial position of the mills enabling them to procure cotton during the peak season. He has appealed to the Hon’ble Minister to get additional allocation so as to make all the beneficiaries to get the subsidy in full.

SIMA Chief has also stated that there were many pending cases during the last two years and the government has been often collecting data.  He has stated that there were List-I and List-II pending cases consisting of mills availed partial benefit and also mills not availed any benefit mainly due to the mistakes committed by the lending agencies (banks). 

Mr.Rajkumar stated that CITI and SIMA made continuous and constant efforts and consequently the Hon’ble Minister has released the funds for the approved pending cases for the List-I and List-II immediately after assuming charge. 

He has added that there were many other cases including several left out cases under List-II, textile projects awaiting for UID under restructured TUF Scheme due to sectoral cap and also several other cases. 

He has stated that SIMA delegation met the Hon’ble Minister and the government officials and made an appeal to constitute a Committee and consider all the pending and left-out cases of TUF Scheme for which the Hon’ble Union Textile Minister immediately responded positively and is in the process of taking necessary steps.  SIMA Chairman has stated that the Committee would finalize the list in 10 days and process the same for the approval of the Cabinet and allocation of necessary funds.

Southern India Mills' Association (SIMA)


Must ReadView All

Indian govt relaxes cabotage rule for cotton transport

Textiles | On 25th May 2018

Indian govt relaxes cabotage rule for cotton transport

The Government of India has relaxed cabotage rules for transportation ...

Courtesy: Teejay Lanka

Textiles | On 25th May 2018

Teejay Lanka doubles production capacity at Indian mill

Teejay Lanka, one of Sri Lanka’s largest textile manufacturers, has...

Courtesy: Messe Frankfurt/Yarn Expo Autumn edition

Textiles | On 25th May 2018

Yarn Expo Autumn 2018 scheduled earlier

Over 500 exhibitors are expected at the Yarn Expo Autumn 2018, being...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Ashok Desai
Bombay Textile Research Association

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

Steve Cole
Xerium Technologies

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Igor Chapurin
Chapurin

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search