Home / Knowledge / News / Textiles / TEA appeals to restore TUFs Subsidy
TEA appeals to restore TUFs Subsidy
01
Jul '10
Tirupur Exporters' Association's President Shri.A.Sakthivel requests Thiru. Dayanidhi Maran, Hon'ble Union Minister of Textiles to take up the matter with Finance Ministry for restoration of TUF Subsidy for new sanctions & proposals in pipeline.

We are thankful to the Hon'ble Minister for taking various measures pragmatically to bailout the crisis ridden knitwear garment sector and always encouraging the exporters to explore the new markets and be ready to promote the exports. The textile industry has got real boost in the past one year due to the Hon'ble Minister's full attention for the development in domestic as well as in the international market.

We are shocked to notice the Circular No:2 (2010-2011 Series) dated 30th June 2010 issued by office of the Textile Commissioner, Ministry of Textiles informing the decision of Expenditure Finance Committee (EFC) dated 28.06.2010 and in pursuance of this, Nodal Agencies / Nodal Banks / Co-opted PLIs have been advised not to issue any further new sanctions under TUFS till additional allocations are approved by Cabinet Committee on Economic Affairs (CCEA) and also lending agencies have been advised to freeze all new proposals in pipeline till additional allocations are made.

We would like to make a note of it that TUFs has provided a fresh lease of life to the textile industry and has helped to overcome technological obsolescence.

We wish to mention that our buyers are insisting us to go for the bigger capacities in our factories to take the advantage of economies of scale and also the modernization with state of art technology machinery are needed on continuous basis so as to produce quality garments to meet out the requirements of buyers and sustain in the global market.

It may be noted that the exporters have shelved their proposals to go for the modernization / capacity increase since 2008, as the global recession has derailed their plan and decided to revive the plan afterwards, as the TUF scheme is existing till 2012. Now, a few exporters have given their proposal to the banks and many of the exporters are contemplating to give their proposal of modernization / increasing their factories capacity to banks.

In the Draft National Fibre Policy 2010-11 dated 8th June 2010 also, it has been suggested that the coverage of TUFs will result in attract more investments and also emphasized the need to give incentives for manmade fibre manufacturing units. When the production of manmade fibre get increased, the consumption of fibres in our country could be increased only by increasing the capacities in garment units, with latest machinery. As there is a good market for manmade fibre garments throughout the year in global, the knitwear garment units have planned to manufacture manmade fibre garments, as of now we are manufacturing almost 95% of cotton based garments which has a market for only three months.

To fulfill our objective also, AEPC has setup Knitwear Technology Mission in Tirupur and will provide all kinds of technical support for manufacturing of manmade fibre garments. We would like to drive home the point that a huge investment is required for switching over from manufacturing cotton based garments to manmade fibre garments, as the knitting machinery are costlier and also new technology is required for processing activity.


Must ReadView All

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Strong exports, consumption fuel growth in Asia: ADB

Textiles | On 16th Dec 2017

Strong exports, consumption fuel growth in Asia: ADB

Economic expansion in developing Asia is likely to accelerate to 6...

Nomura  foresees 7.5% GDP growth for India in 2018

Textiles | On 16th Dec 2017

Nomura foresees 7.5% GDP growth for India in 2018

India's economy is on the cusp of a cyclical recovery and will...

Interviews View All

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Nitesh Mittal

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

Marcel Alberts
Eurofibers

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Judy Frater
Somaiya Kala Vidya

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

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

December 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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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